Conventional Loans
Conventional Loans
A conventional loan is a type of mortgage that is not backed by a government agency like the FHA, VA, or USDA. Instead, it is offered by private lenders and typically conforms to standards set by Fannie Mae and Freddie Mac.
Conventional loans are ideal for borrowers with good credit who want lower long-term costs, no upfront mortgage insurance, and the ability to remove PMI once they reach 20% equity. Unlike FHA loans, they also allow financing for second homes and investment properties.
Key Features of Conventional Loans
As a wholesale broker, we shop multiple lenders to get you lower rates, faster approvals, and more flexible terms than big banks can offer. No markups. No middlemen. Just smart, competitive financing tailored to you.
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Credit Score Requirements: Typically requires a minimum credit score of 620, though a higher score gets better rates.
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Down Payment: As low as 3% for first-time homebuyers, but 5%–20% is more common.
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Documentation: Requires full income, asset, and employment verification (W-2s, tax returns, pay stubs, etc.).
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Loan Limits: Subject to conforming loan limits (as of 2025, up to $766,550 in most areas; higher in high-cost markets).
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Private Mortgage Insurance (PMI): Required if you put down less than 20%, but it can be removed once you reach 20% equity.
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Fixed or Adjustable Rates: Available as 30-year fixed, 15-year fixed, and adjustable-rate options.
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License Info
NMLS: 1064309
Company NMLS: 1660690
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Disclaimer: All loans subject to qualifying factors. Not all applicants will qualify.
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice.
All products are subject to credit and property approval.
Other restrictions and limitations may apply.
NMLS # 1064309 | AZMB #0944059
Corporate Address : 5559 S Sossaman Rd Bldg # 1, Suite #101, Mesa, AZ 85212