Conventional Loans
Flexible financing for buyers with solid credit.
Conventional loans are the most common type of mortgage. They aren’t backed by a government agency, and they offer flexible down payment options, mortgage insurance that can go away, and financing for primary homes, second homes, and investment properties.
Conventional Loans at a Glance
Down payments as low as 3%
Qualified buyers, including many first-time buyers, may be able to put as little as 3% down. Many borrowers choose 5%, 10%, or more.
Mortgage insurance that can go away
With less than 20% down, you’ll typically pay private mortgage insurance (PMI). Unlike some government loans, PMI can be removed once you build enough equity.
Credit drives your pricing
Your credit score affects both approval and cost. Stronger scores generally earn better rates and lower mortgage insurance premiums.
Primary, second, and investment homes
Conventional loans can finance the home you live in, a vacation home, or a rental property, each with its own down payment requirements.
Conforming loan limits
Loans up to your county’s conforming loan limit are conventional conforming loans. Larger loan amounts are financed with jumbo loans.
Refinancing options
Conventional rate-and-term and cash-out refinances can lower your rate, change your term, or let you access your home’s equity.
Down payment, credit, and mortgage insurance requirements vary by borrower, property, and loan program. All loans are subject to credit approval and underwriting guidelines.
Conventional Loan Guides
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FHA vs. Conventional Loans: Which Mortgage Is Better for You?
FHA vs. conventional: compare credit and DTI flexibility, down payments, mortgage insurance, interest rates, and property standards to see which mortgage fits you.
Wondering if a conventional loan fits?
Every scenario is different. Talk it through with a Solido Group loan officer and compare your options side by side.
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