Conventional Loans
The mortgage most buyers actually qualify for.
Conventional loans are the most widely-used residential mortgage in the country — flexible on property type, competitive on overall cost, and available with as little as 3% down for qualified buyers in Texas and Florida.
Overview
A conventional loan is a residential mortgage not backed by a government agency. It's the most common loan type in the U.S., available with as little as 3% down for first-time buyers and 5-20% down for most others. Conventional loans typically offer faster closings, fewer documentation requirements, and the broadest range of property types — including primary residences, second homes, and investment properties.
What to know
Conventional loans, plainly.
Down payment as low as 3%
First-time buyers can use Fannie Mae HomeReady or Freddie Mac Home Possible programs at 3% down. Most other buyers put down 5-20% depending on the property type and loan amount.
Credit-driven approval
Conventional loans use risk-based pricing — your credit score and DTI directly affect your rate and approval. Strong credit usually means the lowest overall cost.
PMI ends — eventually
Private mortgage insurance is required when you put less than 20% down, but it automatically drops off once your loan-to-value reaches 78%. FHA mortgage insurance, by contrast, often stays for the life of the loan.
Works for any property type
Primary residences, second homes, investment properties, condos, townhomes, manufactured homes — conventional financing covers more property types than any other loan program.
Next step
See if conventional fits.
Send me your situation or start your application. I'll tell you honestly whether conventional is the right path or whether another program fits you better.