Conventional Loans

Conventional loans are mortgage options not backed by government programs, like FHA or VA loans. They are typically offered by private lenders and can be fixed or adjustable-rate loans. To qualify, borrowers usually need a good credit score, a stable income, and a down payment—often around 20% to avoid private mortgage insurance (PMI). These loans typically have stricter requirements than government-backed loans but can offer competitive interest rates and terms. They are a common choice for buying homes and refinancing existing mortgages.