Coventional Loans

A conventional loan is a non-government loan that offers competitive interest rates and requires a minimum down payment of 3-5%. Conventional loans follow guidelines set by Fannie Mae and Freddie Mac.

Conventional loans are the most common types of loans in the mortgage industry. These loans can be conforming or non-conforming. Conforming loans are mortgages that follow financing limits set by the Federal Housing Finance Agency (FHFA). Conventional loans offer the largest selection of loan options with competitive rates. They typically have low-interest rates for eligible borrowers with fair to good credit scores.

Your Conventional Loan

Benefits:

More competitive interest rates
Down payments as low as 3-5%
Fewer restrictions compared to government loans
Fixed and Adjustable-Rate Mortgage (ARM) Terms Available
No private mortgage insurance (PMI) with 20% equity
Varied term lengths between 10 and 30 years

This is for informational purposes only and not an offer to lend or extend credit. Subject to credit and income approval. Terms and conditions are subject to change without notice.*

Purchase price

Please enter here the amount you expect to pay for a home.

Down payment

Down payment is cash that you pay upfront for your home.

Term in years

Number of years you have to pay.

year(s)

Interest rate (per year)

The percentage of interest that you will pay on your mortgage for a specific term.

Property Tax

Enter your property tax here if you know it.

per year