Your Path to Homeownership

Conventional Mortgage Loan Highlights

• Credit Score Requirement: Conventional loans typically require a higher credit score, usually above 620.
• Down Payment: The minimum down payment requirement for a conventional loan is usually 3-5% of the purchase price for first-time buyers and 5-20% for other borrowers.
• 2025 Loan Limits: For 2025, conventional loans have a maximum loan limit set by Fannie Mae and Freddie Mac. The baseline limit for a one-unit property is **$806,500**, and can be up to **$1,209,750** in high-cost areas.
  • 1-Unit Property: $806,500
  • 2-Unit Property: $1,032,650
  • 3-Unit Property: $1,248,150
  • 4-Unit Property: $1,551,250
• Private Mortgage Insurance (PMI): Borrowers with a down payment of less than 20% are required to pay PMI, which protects the lender in case of default.
• Fixed or Adjustable Rate Options: Conventional loans offer both fixed and adjustable rate options, allowing borrowers to choose the best option for their financial situation.
• Loan Terms: Conventional loans are typically available with 15- or 30-year terms, although other options may be available.

How to Get a Conventional Mortgage Loan

The process for getting a conventional loan is regulated and consistent, whether you're a first-time homebuyer or a seasoned investor. These loans are backed by government-sponsored entities, Fannie Mae and Freddie Mac, which allows them to offer some of the best interest rates and terms available.

1. Use our online mortgage calculators to estimate your payments.
2. When ready, visit our mortgage partners to apply.
3. Gather your documents (income, assets, etc.).
4. Submit your full loan application.
5. Upload documents to our secure portal.
6. Sign your initial loan disclosures.
7. Work with your Loan Officer to provide any final items.
8. Receive your conditional loan approval.
9. Submit final conditions to the lender.
10. Receive your Clear to Close and schedule your closing!