Loan options
Conventional Loan
The loan most buyers end up with, and the one with the fewest strings attached.
A conventional loan is the standard, not backed by a government program and priced on your credit, your down payment, and the property. Put down twenty percent and there is no mortgage insurance at all. Put down less and there is, but it comes off once you have enough equity, which is the part people miss. Fixed and adjustable structures both live inside conventional lending, which is why this is one page rather than two products.
Who it fits
This loan fits you if
- Your credit is solid and your income is documented the ordinary way
- You have twenty percent, or a path to it
- You want the simplest loan with the fewest strings
- You are buying a primary home, a second home, or a rental
Minimum down payment
Three percent
Terms available
Thirty, twenty or fifteen years, fixed or adjustable
Mortgage insurance
None at twenty percent down, and cancellable below it once you hold the equity
Next step
Get Prequalified
Think Conventional Loan might be the one
Let us confirm it against your actual numbers before you fall in love with a house.