Conventional Loans

What is a conventional loan?

A conventional loan isn't insured by a government agency. Most conform to Fannie Mae and Freddie Mac guidelines, and they're often a good fit for borrowers with solid credit and stable income.

Key features

• Options for primary residences, second homes, and investment properties
• Flexible down payment options, including low down payment programs for qualified first-time buyers
• Private mortgage insurance (PMI) may be required with smaller down payments, and can typically be removed later once you meet requirements
• Fixed-rate and adjustable-rate options
• Loan amounts above the conforming limit are typically jumbo loans

Related: Jumbo · Condo financing · Non-QM

Program availability, guidelines, and eligibility are subject to lender guidelines and eligibility, credit approval, income or asset verification, and property eligibility. This is not a commitment to lend and does not guarantee loan approval. See Disclosures.