Loan program
Conventional
A conventional mortgage is a loan that is not insured or guaranteed by a federal agency.
What is a conventional loan?
A conventional loan is a mortgage that is not insured by FHA or guaranteed by VA or USDA. Lenders follow investor guidelines (often Fannie Mae or Freddie Mac conforming rules, or jumbo guidelines above those limits) rather than a federal insurance program.
Who usually looks at conventional financing?
Borrowers with documented income, a workable credit profile, and cash for down payment and closing costs often start with conventional. It can fit first-time buyers, move-up buyers, and many refinance scenarios.
How does the down payment work?
Conventional purchase loans can allow relatively low down payments on eligible primary residences. Putting less than 20% down usually means private mortgage insurance (PMI) until you reach enough equity. Exact options depend on the property, occupancy, and your full file.
What should we compare next?
If a conventional path is tight on down payment or credit overlays, FHA or a down-payment assistance program may be worth comparing. If you have VA eligibility, that path is often worth reviewing side by side.
Other programs worth comparing
Ready for the next step?
Start an application or book a call. I will help you compare what fits.