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Conventional Loans.

Get a FREE quote on an Conventional Loan & save thousands of dollars per year.

Program overview

The Lowdown on Conventional Loans…

Our Conventional Loan Rates Are Low & Our Process is Quick & Painless. An Conventional loan is a mortgage loan that is insured by the Federal Housing Administration (Conventional). Essentially, the federal government insures loans for Conventional-approved lenders in order to reduce their risk of loss if a borrower defaults on their mortgage payments. The Conventional program was created in response to the rash of foreclosures and defaults that happened in 1930s; to provide mortgage lenders with adequate insurance; and to help stimulate the housing market by making loans accessible and affordable.

Why Conventional?

Why an Conventional Loan?

Typically an Conventional loan is one of the easiest types of mortgage loans to qualify for because it requires a low down payment and you can have less-than-perfect credit. An Conventional down payment of 3.5% is required. Borrowers who cannot afford a traditional down payment of 20% or can't get approved for private mortgage insurance should look into Conventional loans.

Loan features

Conventional programs we offer.

Fixed Rates
Adjustable Rate (ARM)
3.5% Down Payments
Jumbo & Super Jumbo
Terms from 5 to 30 Years
Conventional eligibility

Who qualifies for an Conventional loan?

Conventional loans are one of the easiest types of mortgages to qualify for — low down payment and less-than-perfect credit are both okay.

  • 3.5% down payment minimum. A fraction of what conventional loans typically require.
  • Lower credit-score thresholds. Borrowers who can't get approved for private mortgage insurance should look at Conventional.
  • Down payment can be a gift. From a family member, employer, or charitable organization.
  • Owner-occupied properties only. Single-family, condos, 2–4 unit buildings (you live in one).
  • Conventional loan limits apply. Limits vary by county; we'll confirm yours during the rate quote.
  • Mortgage insurance premium (MIP) required. Upfront and monthly — the trade-off for the low down payment.
FAQ

Common questions answered.

Conventional officially accepts 580+. We may be able to work with lower scores if other compensating factors are strong. Call us to discuss your specific situation.
Yes. Conventional allows gifts from family members. We'll need a gift letter from the donor stating the funds are a gift with no repayment expectation.
Conventional insurance protects the lender if you default. You pay an upfront premium (typically 1.75%) and annual insurance premiums rolled into your monthly payment. This is how Conventional can approve lower-credit borrowers.
If your down payment is less than 10%, you pay insurance for the life of the loan. With 10% or more down, insurance drops after 11 years. You can also remove insurance by refinancing.
Limits vary by county and property type. Most counties in our service area range from $500K to $1M+. We'll confirm the exact limit for your property.
Yes. Conventional allows seller concessions up to 6% of the purchase price. This can reduce or eliminate your out-of-pocket costs at closing.

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For veterans

VA Loan

Zero down, no PMI. If you served, VA offers even better benefits than Conventional without mortgage insurance.

 Conventional option

30-Year Fixed

If your credit has improved, conventional loans offer no mortgage insurance with 20% down.

Ready to become a homeowner?

Conventional pre-approval takes minutes. We'll explain the insurance costs and walk you through the process.

Apply now Call (949) 296-0636