Conventional Home Loans
Standard yet flexible.
Our Conventional Home Loans
A conventional home loan is the most common loan that suites most buyers. These loans generally adhere to the pre-determined guidelines established by Fannie Mae and Freddie Mac, and are not guaranteed or insured by the federal government such as FHA or VA loans.
With sufficient initial equity, mortgage insurance is generally not required.
About Conventional Loans
A conventional loan is a great option if you have a solid credit score and little debt. You can avoid PMI by paying 20% of the loan upfront, which will lower your mortgage payments. If you're unable to make a large payment upfront, conventional loans are available with a down payment as low as 3%.
- SAVE MONEY: With a down payment of 20% or higher, you will not need to pay for mortgage insurance.
- LOW DOWN PAYMENT: You can obtain a conventional loan for as little as 3% down payment. Keep in mind, you will need to pay mortgage insurance.
- FLEXIBLE TERMS: While most loans are for 30 years, you have the option to a term of 10 years.
- QUICK APPROVAL: These loans typically require less paperwork and are approved and funded quickly.
- Credit score of 620 or higher
- Down payment which can be as little as 3%: in some cases, the down payment will be 5%. Down payments of 20% or higher typically avoid mortgage insurance.
- A consistent and documented income: Provide 2 years of continuous or like employment history
- A low debt-to-income ratio: Your total monthly debt is approximately 36% of your total gross monthly income.