Good Credit and Smart Financial Choices Have Their Rewards

If you’ve built a strong credit profile and kept your debt under control, a Conventional Loan could open the door to competitive rates and flexible financing options. See if you qualify in just a few minutes.

CHECK IF YOU QUALIFY

Conventional Loans

A conventional home loan follows lending guidelines established by Fannie Mae and Freddie Mac. Unlike government-backed programs such as VA or FHA loans, conventional loans do not include government insurance. Because of this, lenders typically require stronger credit and financial profiles to qualify.

For borrowers with solid credit, stable income, and the ability to make a down payment, a conventional loan can be one of the most flexible and competitive mortgage options available.

If you are wondering whether you qualify, our Check If You Qualify Tool can help you quickly see which loan programs may be a good fit for your situation.

General Guidelines for Conventional Loans

While every loan scenario is unique, conventional loans generally work best for borrowers who:

Have good to excellent credit (typically 660 or higher)
Have stable and consistent income
Can make a down payment of at least 3%
Maintain a debt-to-income ratio below 50%

Automated underwriting approvals have occasionally been seen with credit scores as low as 600, but those scenarios typically require additional review.

Who Conventional Loans Are Best For

Conventional mortgages are often a strong option for borrowers who:

Have solid credit history
Can contribute a down payment
Want competitive long-term mortgage options
Prefer a loan program with flexible property types and terms

Benefits of Conventional Loans

Conventional loans offer several advantages, including:

Minimum down payments starting around 3%–5%
Mortgage insurance that can be removed once sufficient equity is reached
Typically lower monthly mortgage insurance compared to FHA loans
A straightforward approval process when financial qualifications are strong

Things to Consider

Because conventional loans are not government insured, lenders generally require:

Stronger credit profiles for the best interest rates
Stricter qualification guidelines
Careful evaluation of income and debt ratios

For some borrowers, FHA or VA loans may offer easier qualification.

Ready To See If You Qualify?

Every borrower’s situation is different. The fastest way to understand your options is to run a quick scenario through our Check If You Qualify Tool. In just a couple of minutes, you can see which loan programs may fit your situation and what your estimated payment could look like.