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Conventional Home Loans

Competitive rates and flexible terms for buyers and homeowners with strong credit, ideal for primary residences, second homes, and investment properties. Find the right conventional loan to fit your goals and long-term plans.

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Conventional Home Loans

What Are Conventional Home Loans?

Conventional home loans are mortgages not insured by a government agency and typically follow guidelines set by Fannie Mae and Freddie Mac. They are popular for their flexibility, competitive rates, and wide range of options for buyers and homeowners with good credit. These loans can be used for primary residences, vacation homes, and investment properties.

Who Can Benefit from a Conventional Home Loan?

Conventional loans are ideal for borrowers with stable income, solid credit, and the ability to make a moderate down payment. They work well for first-time buyers with strong profiles, repeat buyers, homeowners looking to refinance, and investors purchasing rental properties.

How Do Conventional Home Loans Work?

Conventional loans typically require a down payment starting as low as three percent for qualified buyers. Borrowers apply through a lender, submit income and asset documentation, and are approved based on credit, debt-to-income ratio, and financial stability. Private mortgage insurance may be required if the down payment is below twenty percent.

Types of Conventional Home Loans

Conventional loan options include fixed-rate mortgages with stable payments, adjustable-rate options, low down payment programs for first-time buyers, and conventional loans for second homes and investment properties. Each type is designed to fit different financial goals and timelines.

What Are the Benefits of a Conventional Home Loan?

Conventional loans offer competitive rates, flexible term lengths, lower mortgage insurance options compared to some government loans, and fewer property restrictions. They are widely accepted and provide long-term stability for borrowers who qualify.

Is a Conventional Home Loan Right for You?

A conventional loan may be right if you have good credit, stable income, and want competitive rates with flexible options. Reviewing your goals, budget, and long-term plans can help determine whether this loan fits your situation better than government-backed alternatives.

Why Choose Dave The Mortgage Guy for Your Conventional Home Loan

When it comes to conventional home loans, having the right guidance can make a real difference in both your monthly payment and long-term financial success. Dave The Mortgage Guy takes a personalized, client-first approach to help you navigate competitive rates, flexible terms, and the many options available within conventional financing.

From the start, the focus is on understanding your goals, credit profile, and plans for the future so your loan is structured around what truly fits your situation. Instead of pushing one-size-fits-all solutions, you receive clear explanations, honest advice, and thoughtful comparisons that help you make confident decisions.

Whether you are buying your first home, upgrading, purchasing a second home, investing in rental property, or refinancing, you are supported through every step of the process with responsive communication and a concierge-level experience. The goal is simple: make conventional lending straightforward, transparent, and aligned with your long-term success so you can move forward with confidence and clarity.

 
 
Answers You Can Trust

Conventional Home Loan FAQs

Find clear answers to common questions about conventional home loans, including qualification, down payments, mortgage insurance, and timelines, so you can move forward with confidence and a better understanding of your options.

What is a conventional home loan?

A conventional home loan is a mortgage that is not insured or guaranteed by a government agency like FHA, VA, or USDA. These loans typically follow guidelines set by Fannie Mae and Freddie Mac and are known for offering competitive interest rates, flexible terms, and a wide range of options for qualified buyers and homeowners.

Who qualifies for a conventional home loan?

Conventional loans are best suited for borrowers with stable income, solid credit, and manageable debt. Most programs require a minimum credit score around 620, though higher scores can help secure better rates and terms. Buyers, repeat homeowners, and investors may all qualify depending on their financial profile.

How much down payment is required for a conventional loan?

Down payments can be as low as three percent for qualified buyers purchasing a primary residence. Larger down payments can reduce monthly payments and may eliminate the need for private mortgage insurance. Requirements vary based on credit, occupancy type, and loan program.

Do conventional loans require mortgage insurance?

Yes, if the down payment is less than twenty percent, private mortgage insurance is usually required. Unlike some government loans, PMI on conventional loans can be removed once enough equity is built, which can lower your monthly payment over time.

Can conventional loans be used for second homes or investment properties?

Yes. Conventional loans are commonly used to finance vacation homes and rental properties. These loans typically require higher down payments and stronger credit than primary residence loans, but they offer flexibility for buyers building real estate portfolios.

Can I refinance into a conventional loan?

Yes. Many homeowners refinance into a conventional loan to lower their interest rate, change loan terms, remove mortgage insurance, or improve cash flow. A review of your current mortgage and goals helps determine whether refinancing into a conventional loan makes financial sense.

How long does it take to close a conventional home loan?

Most conventional home loans close within about 21 to 30 days once a complete application is submitted. The exact timeline depends on documentation, appraisal scheduling, and underwriting conditions, but clear communication and preparation can help keep the process on track.