Conventional Loans
Enjoy traditional home financing with competitive rates, flexible term lengths, and down payment options.
Get a quoteBenefits
- Conventional loans offer various term lengths and down payment options.
- Avoid mortgage insurance with a down payment of 20% or more.
- Depending on creditworthiness, conventional loans may offer lower interest rates.
- Higher loan limits than government-backed loans, ideal for expensive properties.
- Conventional loans provide opportunities for rate and term refinancing.
Eligibility requirements
- Minimum Credit Score: Typically, lenders require a credit score of 620 or higher.
- Debt-to-Income Ratio: Generally, a maximum DTI of 43%, though some lenders may accept higher ratios.
- Down Payment: While 20% is ideal to avoid PMI, conventional loans offer down payment options as low as 3%.
- Private Mortgage Insurance: Required for down payments of less than 20%.
- Employment and Income Verification: Lenders assess stability and ability to repay the loan.
Example
Meet Michael
Michael, a financially stable individual with a strong credit history, opts for a conventional loan. With a 20% down payment, he avoids mortgage insurance and benefits from competitive interest rates.

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