Conventional Loans

Conventional Loans are some of the most common loans in the mortgage industry. These are loans which conform to the standards set by government-sponsored agencies Freddie Mac and Fannie Mae. The standardization across the loan requirements make the loans quite popular. Some benefits to a conventional loan include that mortgage insurance is not required up front or at all if the buyer meets a 20% down payment. A home bought with a conventional loan is permitted to be used as an investment property. The appraisal requirements are less strict which can help your closing go more quickly.


  • Down payment (varies) 
  • For down payments less than 20%, Private Mortgage Insurance is required 
  • Credit score, usually at or above 620 
  • Debt-to-Income Ratio (DTI) usually has to be below 50% 
  • Loan size: For a conforming conventional loan, your loan must fall within the loan limits set by Fannie Mae and Freddie Mac. The loan limit changes annually.  

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To learn more about other mortgage solutions, visit the products page.