Purchase
Conventional Loans
Conventional loans are the most common path to homeownership with competitive rates, flexible terms, and no upfront government fees.
Who it's best for
- Buyers with a down payment of 3% or more
- Strong or improving credit profiles
- Primary homes, second homes, and rentals
At a glance
- Down payment
- As low as 3%
- Terms
- 10–30 years, fixed or ARM
- Mortgage insurance
- Cancellable at 20% equity
Eligibility Snapshot
The numbers that matter for a conventional loans
General guidelines. Your exact terms depend on your full profile. We confirm current figures for your scenario before you rely on any of them.
How It Works
Your conventional loans, step by step
- 1
Pre-approval
We review income, credit, and assets and issue a pre-approval you can shop with confidently.
- 2
Structure the offer
We set your down payment and price range so your offer is both competitive and comfortable.
- 3
Application & disclosures
You complete the full application and receive your Loan Estimate with all costs laid out.
- 4
Processing & appraisal
We order the appraisal and verify documentation while keeping you updated.
- 5
Underwriting to clear-to-close
Underwriting issues conditions, we clear them, and you get the clear-to-close.
- 6
Closing
You sign, funds disburse, and the home is yours.
Be A Sharp Borrower
What to ask any lender about this loan
Good questions get you better answers, and a better loan. Bring these to any conversation, including ours.
Given my down payment, will I have monthly mortgage insurance, and when can it be removed?
Is a 15-year, 30-year, or ARM structure the better fit for how long I plan to stay?
What credit-score tier am I in, and would a small score improvement change my pricing?
What is the conforming loan limit in my county, and am I near it?
Common Questions
Conventional Loans FAQs
- How much do I need to put down on a conventional loan?
- As little as 3% for qualifying first-time buyers, and 5% or more is common otherwise. Putting 20% down removes mortgage insurance, but it is not required to get started.
- What credit score do I need for a conventional loan?
- Most conventional approvals start around a 620 score, but pricing improves as your score rises. Buyers at 740+ generally see the best rates. We review your full profile and map the best fit.
- When can I cancel private mortgage insurance (PMI)?
- On a conventional loan, PMI is generally cancellable once you reach 20% equity, and it automatically terminates at 22% equity based on the original schedule.
- What is the conventional loan limit for 2025?
- The 2025 baseline conforming limit is $806,500 for a one-unit home, with higher limits in designated high-cost counties. Above that, you would look at a jumbo or high-balance loan.
- Can I use a conventional loan for an investment property?
- Yes. Conventional financing is available for primary homes, second homes, and investment properties, though down payment and reserve requirements are higher for rentals.
- Can I use gift funds for a conventional down payment?
- Yes, gift funds from eligible donors such as family are allowed on conventional loans, subject to documentation. We will tell you exactly what is needed.
Other programs
Let’s find the loan that fits your situation.
Apply online in minutes, or call and talk it through.