Conventional Loan

When it comes to home financing, simple is better. Conventional loans are our most popular purchase and refinance option for people with awesome credit and no time for unnecessary fees.

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Reasons/Highlights

  • Down payments as low as 3%
  • Credit scores as low as 620 may be accepted
  • Fixed-rate mortgages can simplify budgeting
  • Adjustable-rate mortgages can offer lower initial payments
  • Easier to get rid of PMI than any other loan type

Visual learner? Hit play. Sound on.

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Pro tip: Once you own 20% of your home and can prove it with an appraisal, you can stop paying private mortgage insurance (PMI) with a Conventional loan. At 22% equity based on your original payment schedule, your PMI drops automatically. People really love that part.

Related home loans.

Great news. With Conventional loans, you've got options. Here's a look at what's possible.

Conventional Purchase

It’s popular for a reason.

When you need a straightforward mortgage, a conventional loan fits the bill. This popular choice offers fixed and adjustable rates, 10-30 year terms, and as little as 3% down. It’s also the easiest loan type for dropping private mortgage insurance.

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Conventional Refinance

Get better rates or cash out.

Refinance to a conventional mortgage from any loan type to enjoy lower rates with a rate-and-term refi. Or, if you’re looking to leverage your home equity, a cash-out conventional refi gives you access to flexible funds with cash out. Kitchen reno, anyone?

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Conventional Rate Protect

House shopping just got less stressful.

If you’re looking to take out a conventional mortgage but haven’t found The One in your home search, Conventional Rate Protect lets you lock in your conventional loan interest rates for up to 90 days while you find the right house for you.

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Purchase

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