Conventional Loans


A conventional loan is a mortgage loan that is not backed by any government agency and instead follows guidelines established by government-sponsored enterprises (GSE).

Why a Conventional Loan?

One of the benefits of a conventional loan is Private Mortgage Insurance (PMI), which is inexpensive or not required for down payments of at least 20%. In addition, unlike FHA or VA loans, conventional loans are available on second homes or investments properties.

Conventional Loan Requirements

  • Minimum FICO score of 620.
  • Higher loan limits than FHA in some areas
  • Adjustable-rate and fixed-rate loan terms available
  • No mortgage insurance with 80% loan-to-value ratio
  • Available for second homes and investment properties

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