Why Conventional?
Conventional financing is often the best fit for borrowers with strong credit and stable income who want flexible terms and competitive long-term cost.
Low Down Payment Options
Qualified buyers may purchase with as little as 3% down.
No Upfront Mortgage Insurance
Unlike FHA, there is no upfront MIP at closing.
Removable PMI
Private mortgage insurance can typically be removed when equity reaches guidelines.
Property Flexibility
Financing available for primary, second-home, and some investment scenarios.
Common Guidelines
- Minimum credit profile depends on program and loan structure
- Down payment varies by occupancy and loan amount
- Debt-to-income ratios must meet conventional underwriting limits
- Property appraisal required to support value
- Reserve requirements may apply in some scenarios
Best Fit For
First-Time Buyers with Strong Credit
Great option when you want low down payment and long-term flexibility.
Move-Up Buyers
Ideal for buyers transitioning into larger homes with better pricing options.
Cost-Conscious Borrowers
Often lower total cost compared with government-backed options over time.