Conventional Mortgages

A Conventional Mortgage or a Conventional Loan is a type of mortgage that is not guaranteed or insured by any government agency. That means it is not associated with the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) or the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate.

A Conventional Mortgage may be right for you if:

  • You’re a first-time or repeat homebuyer; or
  • You have a good credit score and money to put down; or
  • You’re looking for programs with low to moderate down payment options.

Conventional Loan Benefits and Features

  • Down payment: 3%–20%. No mortgage insurance is required with 20% down.
  • Fixed-rate loan terms: Many options are available.
  • Jumbo Loans: For amounts above the limits in the previous bullet, click on the Jumbo link in the main menu.
  • Other requirements and conditions apply.

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