Conventional loans
Flexible financing for eligible primary, second, and investment homes.
How it works
A conventional mortgage comes from a lender and is not insured by the FHA, VA, or USDA. You can use one to buy or refinance. The lender reviews your income, credit, debts, savings, and property before offering terms.
From first check to loan choice
- 1
Choose the property
Tell us whether it will be your primary home, second home, or investment property.
- 2
Review your finances
Compare down payment, credit, income, debts, and cash available for closing.
- 3
Compare the offer
Check rate, APR, total payment, PMI, and cash to close against other programs.
What affects your decision
Down payment and PMI
Conventional loans often require private mortgage insurance when the down payment is smaller. Ask about its cost, cancellation rules, and any lender-paid option, which could involve a higher interest rate.
Loan structure
Fixed rates keep principal and interest predictable. Adjustable rates can change after an initial period. Compare both over the years you expect to keep the loan.
Property use
Down payment and pricing can differ for a primary home, second home, or investment property.
Prepare for a conversation
Documents to have ready
Income records, bank statements, identification, and property or purchase details. Self-employed borrowers may need business records.
Ask this question
What is my total monthly payment with taxes, insurance, and PMI? How much cash will I need at closing?
This page is general education. Program terms, rates, fees, and eligibility depend on the lender and your application.
Compare the whole cost
Ask for a personalized estimate showing the rate, APR, total monthly payment, cash to close, and fees. Then compare the options side by side.
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