Conventional Mortgage Loan

The Standard Home Loan

Conventional loans are the most common type of mortgage — and for good reason. They offer flexibility, competitive rates, and options that fit a wide range of buyers. Whether you’re purchasing your first home, upgrading, or refinancing, a conventional loan is often the go-to choice.

What You Need to Know..

  • Backed by private lenders, not the government (like FHA or VA loans).

  • Available in fixed-rate or adjustable-rate (ARM) options.

  • Great for borrowers with solid credit, steady income, and manageable debt.

  • Can require as little as 3% down for qualified buyers.

The Highlights..

  • Low down payment options (as little as 3%).

  • Flexible loan terms (fixed or adjustable).

  • Available for primary residences, vacation homes, or investment properties.

  • Competitive interest rates, especially for strong credit profiles.

FAQ – Quick Answers..

  • How do conventional loans compare to FHA?
    FHA is designed to help borrowers with lower credit or smaller down payments. Conventional loans often offer lower costs long-term if you qualify.

  • Do I need 20% down?
    No — while 20% removes private mortgage insurance (PMI), qualified buyers can purchase with as little as 3% down.

  • Can I refinance a conventional loan?
    Absolutely — conventional loans are one of the most common options for refinancing.