Conventional Loans
Traditional mortgage financing options for eligible borrowers purchasing or refinancing residential properties.
A dependable path for buying or refinancing
A conventional loan is a mortgage that isn't insured or guaranteed by a government agency such as the FHA, VA or USDA. Many conventional loans follow guidelines set by Fannie Mae and Freddie Mac, and they're among the most widely used mortgages in the country.
Conventional financing can be used for a primary home, a second home or an investment property, with fixed-rate and adjustable-rate options. Qualification typically uses full income documentation, such as pay stubs, W-2s or tax returns.
Ways a conventional loan may be used
- Home purchaseFinancing to buy a primary residence.
- Second homesFinancing for a vacation or seasonal home, subject to occupancy rules.
- Investment propertiesConventional financing for eligible 1–4 unit rental properties.
- Rate and term refinanceRefinancing to change your interest rate, loan term or both.
- Cash-out refinanceUsing home equity for other goals, subject to program limits.
- Fixed or adjustable ratesWe'll compare which structure fits how long you plan to keep the property.
Conventional loan FAQ
What do lenders review for a conventional loan?
Typically your credit, income and employment, debts, assets for down payment and closing costs, and an appraisal of the property. Specific requirements depend on the loan and your scenario.
Will I need mortgage insurance?
Conventional loans with a smaller down payment generally require private mortgage insurance (PMI). The cost and when it can be removed depend on the loan and lender rules. I'll walk you through how it applies to your situation.
Is conventional better than a DSCR or bank statement loan?
It depends on how you document income and what you're buying. Borrowers with straightforward W-2 or well-documented income often look at conventional first, while investors and self-employed borrowers may compare it with DSCR or bank statement options.
Buying or refinancing? Let's find your fit.
Tell me what you're looking to do and I'll help you understand the conventional options you may be eligible for.
Subject to eligibility, underwriting and applicable lender requirements. This is not a commitment to lend.