Is a conventional loan right for you?
If you’re looking for a mortgage with low fees, a conventional home loan may be a good option for you. If you are eligible, there are a number of benefits.
Benefits of a conventional loan
- Save Money: With a down payment of 20% or more, you won’t need to pay for mortgage insurance.
- Flexible Terms: Choose what mortgage term works best for you! Options include 30, 20, 15, and 10 year terms.
- Low Down Payment Option: It’s possible to take out a conventional loan with a down payment of just 3%.
Conventional loan eligibility requirements
- A good credit score of 620 or higher
- A down payment which can be as little as 3%
- Consistent and documented income
- A low debt-to-income ratio
Get started by using one of our FREE tools!
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We don’t hide our rates because it’s so rare we ever get beat! Once you’re ready to get started, go ahead and apply now or get a pre-qualification letter.
Free PreQualification Letter
(You’ll need this to make offers on homes!)
- Makes your offer to buy a home stronger
- Let home sellers know you’re serious
- Helps you know your affordable price range
