Flexible Financing Options
Low Down Payment Options
Conventional loans may require as little as 3% down for qualified buyers, with higher down payments often leading to better rates.
Credit-Based Pricing
Conventional loans typically require stronger credit, with better interest rates available to borrowers with higher credit scores.
Private Mortgage Insurance (PMI)
Conventional loans may require PMI with a low down payment, but it can often be removed once enough equity is built.
Flexible Use & Loan Terms
Choose from 15- or 30-year terms and use conventional financing for primary homes, vacation properties, or rentals.
frequently asked questions
Conventional loans allow both rate-and-term and cash-out refinancing, and refinancing may help borrowers lower their interest rate, reduce monthly payments, or eliminate PMI once they have built up enough equity in their home.
Yes. Conventional loans offer flexible occupancy options and can be used for primary residences, second homes, and investment properties, depending on loan guidelines.
Conventional loan rates are often lower than FHA rates for borrowers with strong credit profiles. However, total loan cost can vary depending on PMI, down payment amount, and loan term.
Most Conventional loans require a minimum credit score of 620, though borrowers with higher scores typically qualify for lower interest rates, reduced PMI costs, and more favorable loan terms.
Qualified buyers may put as little as 3% down, but larger down payments can help secure better interest rates, lower monthly payments, and potentially avoid PMI altogether.
PMI is generally required when a borrower puts less than 20% down, but unlike FHA mortgage insurance, PMI can usually be removed once sufficient equity is reached, reducing long-term costs.
