Conventional
Conventional Loans
A flexible, popular option for buyers with solid credit and a steady down payment.
Overview
Conventional loans are the most common mortgage type, offering competitive rates and flexible terms for qualified borrowers. They are not backed by a government agency, which means eligibility is driven by credit, income, and down payment. With as little as 3% down for eligible first-time buyers and no upfront mortgage insurance like some government programs, conventional loans are a strong fit for many buyers who have stable income and a solid credit history.
Who It May Fit
Buyers with stable income, solid credit, and a down payment of 3% or more — especially those who want to avoid government-backed program requirements.
Potential Benefits
- Down payments as low as 3% for eligible first-time buyers
- No upfront mortgage insurance requirement
- Competitive fixed and adjustable rates
- Flexible loan terms (15, 20, and 30 years)
- Available for primary, second home, and investment properties
- No government-mandated occupancy restrictions on second homes
Important Considerations
- Private mortgage insurance (PMI) typically required with less than 20% down
- Stricter credit and debt-to-income requirements than government-backed programs
- Higher down payment may be needed for investment or second-home properties
Next Step
Talk to Kahren Oxner
Founder & CEO
Connect with Kahren to review eligibility, structure, and next steps.