Conventional Loans

Is a conventional loan right for you?

If you’re looking for a mortgage with low fees, a conventional home loan may be a good option for you. If you are eligible, there are a number of benefits.

Benefits of a conventional loan

  • Save Money: With a down payment of 20% or more, you won’t need to pay for mortgage insurance.

  • Flexible Terms: Choose what mortgage term works best for you! Options include 30, 20, 15, and 10 year terms.

  • Low Down Payment Option: It’s possible to take out a conventional loan with a down payment of just 3%.

Conventional loan eligibility requirements

  • A good credit score of 620 or higher

  • A down payment which can be as little as 3%

  • Consistent and documented income

  • A low debt-to-income ratio