America's most popular home loan.
Competitive rates, flexible terms, and PMI that actually goes away. Conventional loans are the workhorse of home financing. Ky will show you whether it beats the alternatives for your situation.
No SSN required. Zero impact to credit. Your information is never sold.
Flexible financing for qualified borrowers
Conventional loans are the most common mortgage in America. Unlike FHA, VA, or USDA loans, they aren't insured by a federal agency. They follow Fannie Mae and Freddie Mac guidelines, which lets lenders offer competitive rates and flexible terms.
They come in two flavors: conforming loans that fit Fannie/Freddie limits, and non-conforming loans (like jumbo) that exceed them. For 2025, the conforming limit is $806,500 in most areas and up to $1,209,750 in high-cost markets.
- ✓ Competitive rates for borrowers with good credit
- ✓ Down payments as low as 3% for qualified first-time buyers
- ✓ No upfront mortgage insurance premium
- ✓ PMI can be removed once you reach 20% equity
The conventional loans process
Four steps, explained in plain English at every one.
Get pre-approved
Understand your budget and show sellers you're a serious buyer.
Find your home
Make an offer and complete the full loan application.
Verification
The lender orders the appraisal and verifies income, assets, and employment.
Close
Clear any conditions, close, and get the keys.
No credit pull. No obligation.
Conventional qualification, in plain English
Typically you'll need a 620+ credit score (740+ gets the best rates), a down payment from 3% (first-time buyers) to 5-20%, a debt-to-income ratio around 43-45% or below, and about two years of documented stable income. Putting 20% down skips PMI entirely.
Self-employed? You'll generally need two years of tax returns showing consistent income, and Ky can talk you through Non-QM alternatives if that's a hurdle. All subject to credit approval.
Conventional Loan Qualifier
Check your eligibility in one minute. No SSN, no credit pull, no pressure.
Takes about a minute.
Why conventional is the default choice
Competitive rates
The best pricing available for strong credit profiles.
Low down payment options
As little as 3% down for qualified first-time buyers.
Removable PMI
Unlike FHA insurance, conventional PMI drops off at 20% equity.
Flexible property types
Primary homes, second homes, or investment properties.
Higher loan limits
Borrow up to the conforming limit, and more in high-cost markets.
Multiple terms
Choose from 10, 15, 20, 25, or 30-year fixed terms.
Common questions about conventional loans
Have one that's not here? Just reach out.
What's the difference between conventional and FHA loans?
Conventional typically wants higher credit (620+ vs 580+) and can cost less overall for qualified borrowers, especially since conventional PMI is removable at 20% equity while FHA insurance usually isn't. FHA is more forgiving on credit; conventional is more flexible on property types.
How much do I need for a down payment?
3% for qualified first-time buyers, 5% for most primary residences, 10-15% for second homes, and 15-25% for investment properties. 20% or more skips PMI.
What is PMI and how do I remove it?
Private Mortgage Insurance applies under 20% down. You can request removal at 20% equity, from payments or appreciation, and it drops automatically at 22%.
What are conforming loan limits?
The maximum loan Fannie Mae and Freddie Mac will buy. It adjusts annually and runs higher in high-cost markets. Above that you're in jumbo territory. Ky can tell you the current limit for your county.
Can I use a conventional loan for an investment property?
Yes, with 15-25% down and slightly higher rates. You can finance up to 10 properties under Fannie/Freddie guidelines.
Is a conventional loan better than a government loan?
It depends. Good credit (700+) and a larger down payment usually favor conventional. Lower scores, smaller savings, or military service eligibility can make FHA, USDA, or VA the smarter pick. Ky will run both side by side.
Let's see if conventional wins for you.
Get a no-cost quote and an honest comparison against every other program you might qualify for.
Quick • No credit pull • Just real numbers
Conventional loans subject to credit approval. Rates, program terms, and conditions are subject to change without notice. Not all products are available in all states or for all dollar amounts. Private mortgage insurance required for down payments less than 20%. Loan limits subject to annual adjustment. Property appraisal required. This is not a commitment to lend. Licensed in Minnesota.