CONVENTIAL LOANS

Conventional conforming loans are not made by a government entity, like FHA and VA loans, but instead, follow the guidelines set forth by Fannie Mae and Freddie Mac. These established guidelines usually call for a minimum credit score, certain income requirements, and a minimum down payment.

Modern house with gray exterior and white trim.

It is a myth that you need 20 percent down payment for a conventional loan.  There are conventional loan programs that require as little as 3 percent down.  Private mortgage insurance, or PMI, is required for any conventional loan with less than a 20% down payment. PMI is an insurance policy that protects the lender against loss resulting from default on a mortgage loan. 

CHECK YOUR TRUE CREDIT SCORE

A credit score assists in measuring your ability to repay a debt in the future.

CALCULATE YOUR MORTGAGE PAYMENT

Want to know how much home you can afford? Try our mortgage calculator.

APPLY NOW

Fill out our online application to get pre-approved.