Conventional Loans

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 A conventional loan is one of the most popular mortgage options available today. Backed by private lenders, these loans give you flexibility when it comes to financing and property choices, making them a great fit for many buyers.

Down Payment Options
You can decide how much you’d like to put down, typically anywhere from 3% to 20% of the purchase price. A larger down payment means borrowing less, which can lower your monthly payment.

Property Choices
With a conventional loan, you’re not limited to just primary residences. You can also use this financing for second homes or investment properties, giving you room to grow as your needs change.

Interest Rate Options
Conventional loans allow you to choose what works best for your budget. Fixed-rate loans offer predictable payments, while adjustable-rate loans may provide lower initial payments that can adjust over time.

Easy to Find
Because conventional loans are so widely offered, they’re one of the most accessible mortgage types on the market.

Requirements to Know
These loans typically require stronger credit than government-backed options. A score of 620 or higher is usually needed, and loan limits are set by Fannie Mae and Freddie Mac. These limits vary by area and adjust each year based on housing trends.

Private Mortgage Insurance (PMI)
If your down payment is less than 20%, PMI may be required. The good news is that once you’ve built about 20% equity, through payments or appreciation, you can often request to have PMI removed.

Smart, flexible, and affordable.
From your very first home to a vacation retreat or investment opportunity, a conventional loan can give you the freedom and confidence to reach your real estate goals.