Conventional Loan Specialist  ·  NMLS #1982189  ·  120+ Lenders

The most flexible path
to home financing.

Conventional loans are the most widely used mortgage option — competitive pricing, flexible structures, and down payment options starting at 3%. With access to 120+ lenders, we structure your loan around your goals — not just your loan amount.

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🏡 Conventional Loan Specialist
⭐ Stars · Google Reviews
🏠 NMLS #1982189
120+
Lender Options
States Licensed
★
Google Rating
Verified Reviews
Why Conventional

Backed by Fannie & Freddie.
Priced by the market.

Conventional loans are backed by Fannie Mae and Freddie Mac — the two government-sponsored entities that purchase mortgages from lenders and set standardized underwriting guidelines. Because lenders know these loans will be purchased and resold, they can offer highly competitive pricing. For borrowers with solid credit and stable income, conventional financing typically delivers the lowest total cost of any mortgage program.

"Conventional loans are the baseline by which everything else gets compared. If you qualify on conventional terms, the question isn't whether to use it — it's which lender prices it best for your profile."

This program fits if you…
  • Are buying a primary residence — conventional is the most versatile program for owner-occupied purchases at any price point below the conforming limit
  • Are a move-up buyer — selling your current home and purchasing the next one, with equity to apply toward down payment
  • Have a strong credit profile — 740+ credit score unlocks the best conventional pricing and lowest PMI costs
  • Have stable, documentable income — W-2 or consistent self-employment income that underwrites cleanly
  • Want to avoid FHA — conventional PMI can be less expensive than FHA MIP, especially above 5% down, and conventional PMI can be removed; FHA MIP often cannot
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The Broker Advantage

On conventional loans,
rate isn't the only variable.

Conventional loan guidelines are standardized — but pricing isn't. The same borrower with the same credit and the same loan amount will receive meaningfully different rate quotes from different lenders on the same day. PMI costs also vary significantly by provider, and not all lenders offer the same PMI structures (monthly, single-premium, lender-paid). As an independent broker, I compare rate and PMI across 120+ lenders simultaneously — so you see the full picture, not just what one institution is willing to offer.

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What We Handle

Conventional financing for
every stage of homeownership.

🔑
First-Time Buyers
Conventional programs allow as little as 3% down for first-time buyers. We identify the right program — 97 LTV, HomeReady, or Home Possible — based on income, location, and credit profile.
📈
Move-Up Buyers
Selling your current home and buying the next one. We coordinate timing, bridge equity from sale to purchase, and structure the new loan around your net proceeds and target payment.
💳
Low Down Payment Options
Between 3–19% down, PMI applies — but PMI structure matters. Monthly, single-premium, and lender-paid PMI each have different break-even points. We run the numbers before you commit.
⭐
High Credit / Best Pricing
740+ credit unlocks the best conventional rate tiers. If your profile is strong, the focus shifts entirely to rate shopping — and with 120+ lenders, we have more to compare than any single institution.
FAQ

Conventional loan questions,
answered straight.

What is the minimum down payment for a conventional loan?
Most programs allow 3% down for first-time buyers and 5% for repeat buyers. At 20% down, PMI is eliminated entirely. Between 3–19%, PMI applies — but the cost and structure vary by lender and program. We compare PMI options alongside rate so you see total monthly cost, not just the interest rate.
What is PMI and when can I remove it?
Private mortgage insurance (PMI) protects the lender when you put down less than 20%. It's typically 0.2–1.5% of the loan amount annually. Once your balance reaches 80% of the original home value, you can request cancellation. At 78% LTV, lenders are required to remove it automatically. Unlike FHA mortgage insurance, conventional PMI has a clear exit — which is one reason conventional often outperforms FHA for borrowers who qualify.
What credit score do I need?
The minimum for most conventional programs is 620. The best pricing starts at 740+. Unlike government-backed loans, credit score directly affects your conventional rate — often in meaningful increments. Improving your score before applying can reduce both your rate and PMI cost.
Fixed or adjustable rate — which is better?
A 30-year fixed locks your rate for the life of the loan — maximum predictability. A 15-year fixed pays off faster and typically carries a lower rate, but a higher monthly payment. An ARM (adjustable-rate mortgage) offers a lower fixed rate for an initial period — 5, 7, or 10 years — then adjusts. ARMs can make sense for buyers who plan to sell or refinance before the adjustment period. For most buyers planning to stay long-term, fixed is the lower-risk choice.
What are the conventional loan limits for 2026?
The conforming loan limit for 2026 is $832,750 in most U.S. counties, with higher limits in designated high-cost markets. Loans above that threshold require jumbo financing, which follows different underwriting guidelines and is priced separately.

Find the right conventional loan —
not just the lowest rate.

Get clarity on your options — no obligation, same-day response.

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(206) 949-5563  ·  elliott@yourmortgagecopilot.com  ·  Erie, Colorado  ·  Licensed in States