Conventional loans
A conventional loan is a mortgage not backed by a government agency, typically offering competitive rates and flexible terms for borrowers with strong credit.
Review your credit report
Reviewing your credit report is an important step when applying for a conventional loan, as lenders use it to evaluate your creditworthiness, payment history, and overall debt management. Checking your report early allows you to identify and correct errors, pay down outstanding balances, and address late payments that could impact your interest rate or approval.
A strong, accurate credit profile can help you qualify for better terms, lower costs, and a smoother loan process overall.
A strong, accurate credit profile can help you qualify for better terms, lower costs, and a smoother loan process overall.
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key benefits
Key benefits of a conventional loan
Lower Long-Term Costs
Conventional loans often come with lower interest rates and reduced mortgage insurance, especially for borrowers with strong credit saving you money over the life of the loan.
Flexible Down Payment Options
With options as low as 3% down, conventional loans make homeownership more accessible while still offering competitive terms for buyers at different stages.
More Equity, Faster
Unlike some government backed loans, private mortgage insurance can be removed once enough equity is built putting more of your payment back into your pocket sooner.
Guiding you every step of the way
Buying a home doesn’t have to feel overwhelming. From your initial application to final closing, our team walks you through each step of the conventional loan process with clear communication, expert guidance, and no surprises. We’re here to answer your questions, keep things moving smoothly, and help you feel confident every step of the way.
Step 1
Get Pre-approved
I’ll start by reviewing your income, credit, and goals to determine how much home you can comfortably afford. A pre-approval helps you shop with confidence and shows sellers you’re serious.
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Step 2
Find the right home
Once you’re pre-approved, you’ll work with a real estate agent to tour homes and find the one that fits your needs, lifestyle, and budget.
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Step 3
Make an offer
When you find the right home, your agent will submit an offer on your behalf. We will be available to answer questions and help ensure your financing supports a strong offer.
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Step 4
Apply & lock your rate
After your offer is accepted, we will guide you through completing your loan application, collecting documents, and locking in your interest rate at the right time.
Step 5
Home inspection & appraisal
You’ll schedule a home inspection to identify any potential concerns, while we will order the appraisal to confirm the home’s value meets lender requirements.
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Step 6
Loan approval
We will work closely with processing and underwriting to keep everything moving smoothly and keep you informed as we finalize your loan approval.
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Step 7
Close & get the keys
At closing, you’ll sign the final paperwork, the loan is funded, and you get the keys to your new home!
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faq
Frequently asked questions
How much house can I afford?
That depends on your income, monthly debts, credit score, down payment, and current interest rates. Most lenders look at your debt-to-income ratio (DTI) to make sure your mortgage payment fits comfortably within your budget. A pre-approval is the best way to get an accurate number before you start shopping.
What credit score do I need to buy a home?
It varies by loan program:
- Conventional loans: Often start around 620
- FHA loans: Can go as low as 580 (sometimes lower with larger down payments)
- VA & USDA loans: More flexible, depending on the lender Even if your score isn’t perfect, there are often options and ways to improve it quickly.
How much money do I need for a down payment?
Not as much as many people think.
- Conventional loans: As low as 3% down
- FHA loans: 3.5% down
- VA & USDA loans: 0% down for eligible borrowers There may also be down payment assistance programs available depending on your location and situation.
Should I rent or buy?
Buying can build long-term wealth through equity, while renting offers flexibility. If you plan to stay in the home for a few years and your finances are stable, buying often makes sense especially since rent typically increases over time, while a fixed mortgage payment does not.
What documents do I need to apply for a mortgage?
Most lenders will ask for:
- Recent pay stubs
- W-2s or tax returns
- Bank statements
- Photo ID
Permission to pull your credit Having these ready helps speed up the approval process and avoids delays.
Explore
Other loan types
FHA loans
FHA loans make homeownership more accessible with lower down payment options and flexible credit guidelines, helping more buyers achieve their dream of owning a home.
VA loans
VA loans provide eligible veterans, active-duty service members, and surviving spouses with a powerful home financing benefit, often allowing home purchases with no down payment and competitive interest rates.
Rural development loans
USDA Rural Development loans help eligible buyers purchase homes in rural and suburban communities with affordable terms and the possibility of zero down payment.
contact us
We’re here to help
Tell us a little about what you’re looking for, and we’ll help you find the right loan solution. From your first inquiry to closing day, we’re committed to making the process simple and stress-free.
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