Residential Lending
Your path to
homeownership
starts
here.
Conventional Loans
What are Conventional Loans?
Conventional loans are not insured by the government (like FHA, VA, or USDA loans) but follow lending guidelines set by Fannie Mae and Freddie Mac. These loans typically offer better rates, terms, and lower fees compared to other mortgage options, making them an excellent choice for borrowers with good-to-excellent credit and a stable income.
Key Benefits:
Common types of
Conventional Loans
Fixed-Rate Mortgages
Your interest rate and monthly payment remain the same for the entire term of the loan.
30-YEAR FIXED LOAN
Lowest monthly payments
20-YEAR FIXED LOAN
Lower payments with faster payoff
15-YEAR FIXED LOAN
Lower interest rates, pay off your loan sooner
10-YEAR FIXED LOAN
Build equity quickly with the lowest rates
5-YEAR FIXED LOAN
Fastest payoff and least interest paid overall
Adjustable-Rate Mortgages
Enjoy a fixed rate for an initial period before rates adjust annually.
3/1 ARM
Fixed for 3 years, adjusts yearly after that
5/1 ARM
Fixed for 5 years, adjusts yearly after that
7/1 ARM
Fixed for 7 years, adjusts yearly after that
Conventional Loan
Requirements
DOWN PAYMENT
5%-20% of the home price (depending on credit and loan terms)
CREDIT SCORE
Typically 620+ for best rates
PROPERTY TYPES
Single-family homes, condos, multi-family (1-4 units), planned unit developments
USAGE
Primary residence, second home, or investment properties
