Conventional Guidelines

In today’s market, having a strong loan option can give you a major advantage—especially when competing against multiple offers. Conventional loans are a great choice for buyers with solid credit who want lower long-term costs and more flexibility.

Unlike government-backed loans, Conventional financing can offer lower overall costs, no upfront mortgage insurance, and more options when it comes to property types.

Whether you're purchasing your primary home, a second home, or an investment property, Conventional loans provide a versatile solution tailored to your goals.

Program Highlights:

  • As low as 5% down payment (primary residence)

  • No upfront mortgage insurance

  • Ability to remove PMI once equity reaches 20%

  • Competitive fixed and adjustable-rate options

  • Available for primary, second homes, and investment properties

Eligible Property Types:

  • Single-Family Homes

  • Condos

  • Townhomes

  • 2–4 Unit Properties

Requirements:

  • Typically 620+ credit score

  • Verifiable income (W2, 1099, or self-employed)

  • Stable employment history

  • Down payment varies based on occupancy & property type

FAQs

What’s the minimum down payment?
As low as 5% for primary residences. Higher for second homes and investments.

Do I have mortgage insurance?
Only if you put less than 20% down—but it can be removed later.

Is this better than FHA?
It depends. Conventional is typically better for buyers with stronger credit and more savings.

Can I use this for an investment property?
Yes. Conventional loans allow for investment purchases.

What’s the typical loan term?
Most common options are 15 or 30 year fixed, with adjustable-rate options available.

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