Enjoy flexible terms with a conventional loan
Enjoy competitive rates and lower costs with a conventional loan — ideal for those with solid credit and steady income.
Who's it for?
Conventional loans are perfect for homebuyers with strong credit and a stable income who want a loan with fewer restrictions. Whether you’re buying your first home, upgrading, or refinancing, a conventional loan offers flexible terms and great rates with fewer hoops to jump through.
Conventional loan benefits
- Lower interest rates for qualified borrowers
- More flexible loan terms (10, 15, 20, or 30 years)
- No upfront mortgage insurance required for 20% down payments
- Can be used for primary, secondary, and investment properties
- Higher loan limits than government-backed loans
- Fewer restrictions compared to FHA, VA, or USDA loans
Eligibility requirements
To secure a Conventional loan, you’ll need to meet the following requirements:
- Minimum credit score of 620 (higher scores get better rates)
- Down payment as low as 3% for eligible buyers
- Debt-to-income (DTI) ratio typically under 43%
- Stable income and employment history
- Private mortgage insurance (PMI) required for down payments under 20%
Find out if a Conventional loan loan is right for you
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