Conventional Loans Overview

Conventional loans are generally a good fit for most borrowers who do not have any special circumstances and have good credit. Qualifying for a conventional loan typically provides you with a more favorable interest rate and loan terms as a result of your better credit rating.

Since there is such a wide variety of conventional loans, the requirements vary. Whether you are financing an owner-occupied home, second home or investment property, we can provide you available rates and minimum down payments requirements. If you’ve had any bankruptcies or foreclosures in the past 7 years, an FHA or specialty loan might provide a better option than a conventioal loan.



  • Higher maximum loan limits
  • Financing for secondary, seasonal and rental properties available
  • 5% down payment options, with 3% down payment available in some circumstances (for primary residence)
  • Both fixed rate and Adjustable Rate Mortgage (ARM) options available
  • No up-front mortgage insurance
  • No annual mortgage insurance once Loan-to-Value reaches 80%/78%


  • Many conventional loans have stricter down payment and underwriting requirements
  • Conventional loans are not insured by any federal agency; as a result this loan type may be subject to Private Mortgage Insurance (PMI) if the loan-to-value exceeds 80%.  
  • Typically, they are all full-documentation loans with proof of ability to repay
  • For wait times after a foreclosure, short sale or bankruptcy, contact one of our loan officers to discuss your circumstances

What will my payment be?

Down Payment % 0% 3.50% 5% 10% 20%
Down Payment Amount
Loan Amount
Available Loans VA
FHA Bond
2nd Chance
2nd Chance
Principal & Interest
*Principal & interest only. Amount does not include other applicable monthly fees such as mortgage insurance, property taxes, insurance, HOA fees, or flood insurance.

Get Started with Your Home Loan

Contact Us!

Contact us today and we can discuss your options and find a program that is perfect for you.