Conventional Loans

“Conventional” just means that the loan is not part of a specific government program. Conventional loans are funded by private financial lenders and then sold to government-sponsored corporations Fannie Mae and Freddie Mac.

These loans have stricter requirements than FHA loans. You’ll need a higher credit score and a lower debt-to-income ratio (DTI) to qualify for a conventional loan than you would with an FHA loan. Your down payment could be as low as 3% and if your down payment is at least 20%, you can avoid paying private mortgage insurance (PMI).

  • 10 – 30 year fixed rates
  • Primary residence
  • Second home
  • Investor
  • Single family residential
  • Condominiums
  • 2-4 unit properties