Conventional Loan
A conventional loan is a type of mortgage that’s not backed by a government agency. Learn how it works, who qualifies, and its advantages.
Eligibility for Conventional Loans
- Credit score of 620 or higher
- Two years of consistent income and employment history
- Debt-to-income ratio under 45%
- Down payment as low as 3% (20% to avoid PMI)
- Cash reserves at hand for closing costs
Benefits of Conventional Loans
- No mortgage insurance required with 20% down
- Flexible loan terms (10–30 years)
- Competitive interest rates
- Applicable to a wide variety of properties
- Option to refinance in the future
Expert Help
Our experienced loan consultants will take the time to understand your needs and help find the perfect mortgage for you.