The standard route and usually the cheapest one.
A conventional loan is the loan most people end up with, and for good reason. It can offer good rates, flexible terms, and a bunch of options depending on what you are trying to do with your home purchase. We compare conventional loan options across 100+ lenders, so you are not stuck picking the first offer you see. We want to help you find the loan that actually fits your budget and your goals.
100+ Lenders
Approval Within 24 Hours
30+ Years of Mortgage Experience
No Credit Pull • No Obligation
Conventional is usually right if this is you
| YOUR SITUATION | WHY THIS LOAN FITS | |
|---|---|---|
| Your credit is in good shape | Conventional rewards a clean history with the lowest long-run cost of any purchase program | Compare with FHA |
| You have something saved | More down means better pricing and, eventually, no mortgage insurance at all | Down payment help |
| You want the mortgage insurance to end | Unlike some programs, conventional mortgage insurance comes off once you have built enough equity | Refinance options |
| You are buying a second home | Conventional is the usual route for a holiday home rather than a rental | Second homes |
| The price is above your county ceiling | Past a certain point it stops being conventional and becomes a jumbo | Jumbo loans |
One application. Better options. Simple process.
One simple application gives us what we need to explore the right mortgage options for your situation.
1
Submit the documents
Upload the required documents so we can review your application and get your loan moving.
2
We Shop 100+ Lenders
We compare lenders and find the loan options that actually fit your situation, not a generic one-size-fits-all pitch.
3
You Choose. We Close
Pick the option that works best for you. We handle everything from underwriting to closing.
What a conventional file needs
A credit history worth reading
It is not just about a number. Lenders look at what happened, when it happened, and whether anything has gone wrong since. This is also why so many buyers ask about the credit score for conventional mortgage approval. Generally, the higher your score, the better your pricing looks. That said, a conventional loan with a 620 credit score is still possible in a lot of cases, though your rate will be a bit higher than someone with excellent credit.
A deposit
How much you put down completely changes your overall loan pricing and directly impacts whether mortgage insurance applies to your situation at all. Gift funds coming from your family are usually fully accepted by lenders. Therefore, if someone close to you genuinely wants to help out with your required down payment, that is normally completely fine and allowed.
Income you can evidence
Providing standard W-2s and current pay stubs always makes proving your financial situation the absolute simplest option available. However, if you work for yourself as an independent contractor or business owner, a completely different loan program might actually read your true income much better than a standard conventional file ever could.
Room in your monthly budget
Existing car payments, credit cards, and student loans all directly count against the total amount of money you have left over for a monthly mortgage payment each month. When lenders evaluate your financial profile, they carefully look at these ongoing monthly liabilities because they heavily restrict your purchasing power. Managing and factoring in these current expenses is completely essential to ensure your household budget can comfortably sustain a brand-new home loan commitment without creating unexpected financial stress or falling short on your monthly bills.
A property that qualifies
Condos, rural addresses, and homes that desperately need significant repair work each distinctly narrow down the overall list of mortgage lenders who are willing to work with you. Certain property types carry unique financing challenges, meaning that not every financial institution will readily approve or fund them. Choosing these specific kinds of real estate requires you to carefully research and find specialized lenders who understand these properties, ensuring your loan approval process moves forward smoothly without unnecessary delays or complications.
A loan inside the county limit
Every county sets its own conforming ceiling. This brings up a common question buyers have, which is the difference between a conforming loan vs conventional loan. In plain terms, a conforming loan is a conventional loan that stays under your county’s loan limit. Go above that number, and it becomes a jumbo loan instead. So really, when people ask about conforming vs conventional loan or a conforming fixed loan vs conventional loan, they are usually talking about the same basic loan type, just at different loan amounts. A conforming conventional loan simply means the loan fits within those set limits.
No rates or figures here on purpose. Yours depend on your credit, the county and the program. A licensed loan officer gives you real numbers on the call.
What to watch for, and we will not bury it
Credit is priced harder here
Conventional loans charge more for a weaker credit history than FHA loans do. If your credit has taken a hit recently, we will price both programs and show you which one actually costs less in your case.
Mortgage insurance does not remove itself
It falls away once you own enough of your home, but almost nobody is told to actually ask for it to be removed. We check in with our clients when they hit that point so it does not get missed.
The county ceiling moves
What counts as conventional in Fairfax is different from what counts as conventional in Baltimore or Charlotte. We check your county before you write an offer, so there are no surprises later.
Nadeem Bhatti
Where we place conventional loans
Maryland
Virginia
Washington DC
North Carolina
Florida
Texas
We are a mortgage company serving these areas. We do not keep a branch in each one. Every mortgage loan is worked from 8115 Maple Lawn Blvd, Suite 350, Fulton, Maryland.
What buyers ask about conventional loans
Is a conventional loan better than FHA?
It really depends on your credit. Above a certain credit score, a conventional loan vs. FHA comparison usually favors conventional, since it costs less over five years. Below that score, FHA usually wins. We price both side by side before you have to choose anything.
Can my family help with the deposit?
Yes, gift funds from family members are generally accepted for a conventional loan down payment. Your lender will usually ask for a short letter confirming the money is a gift and not something you need to repay.
When does the mortgage insurance stop?
Once you have built enough equity, typically around 20 percent, mortgage insurance on a conventional loan can be removed. This is one of the biggest benefits of conventional loan programs compared to FHA, where insurance often stays for the life of the loan.
Can I use a conventional loan for a rental?
Yes, though a conventional loan for a second-home purchase has different requirements than buying a full investment property. Rental properties usually need a larger down payment and slightly higher credit than a second home or primary residence would.
What if my credit is not strong?
If your credit needs some work, we will compare a conventional loan with a 620 credit score against FHA pricing so you can see which one actually costs less for you right now. Sometimes FHA makes more sense short-term, with a plan to refinance into conventional once your credit improves.
What is the difference between FHA and conventional mortgage loans?
The core difference between FHA and conventional mortgage loans comes down to credit flexibility and mortgage insurance. FHA is easier to qualify for with lower credit, while conventional rewards stronger credit with better long-term pricing and insurance that eventually goes away.
Can I refinance my VA loan into a conventional loan?
Yes. Many homeowners choose to refinance a VA loan to conventional loan financing once they have built enough equity and want to move away from VA funding fees, or once the property is no longer their primary residence.
Is a conforming loan the same as a conventional loan?
Mostly yes. A conforming loan vs conventional comparison usually comes down to loan size. A conforming loan is a conventional loan that stays within your county’s set loan limit. Go above that limit, and it becomes a jumbo loan instead.
See whether conventional is your cheapest route
Tell us how you get paid. We will price conventional against the alternatives and send it to you in writing, free.