Loan Program
Conventional Loan
A conventional loan is the most common financing path for buyers with stable income and healthy credit. It usually delivers the lowest total cost over the life of the loan when your profile qualifies.
Key highlights
- Down payment from 3% for eligible first-time buyers
- No upfront mortgage insurance, and PMI drops off as you build equity
- Fixed 15, 20 and 30-year terms, plus adjustable options
- Works for primary residences, second homes and investment properties
Who a conventional mortgage fits best
Conventional financing rewards a clean credit history and a manageable debt-to-income ratio. If your credit score is in the mid-600s or higher and your documented income comfortably covers your obligations, this is usually the first program we price.
Because private mortgage insurance can be removed once you reach roughly 20% equity, conventional loans often beat government-backed alternatives on long-term cost, even when the starting rate looks similar.
What you need to get pre-qualified
Two years of income documentation, recent bank statements, photo ID, and permission to review your credit. From there we build a full scenario: purchase price, down payment, taxes, insurance and HOA, so the monthly payment you plan around is the payment you actually get.
Frequently asked questions
What credit score do I need for a conventional loan?
Most conventional programs start at a 620 credit score, and pricing improves meaningfully above 700. If you are below that, we map out exactly which items to address first.
Can I put less than 20% down?
Yes. Down payments start at 3% for qualified buyers. You will carry private mortgage insurance until you reach about 20% equity, and it can then be removed.
Your Next Step
Your home is one conversation away.
Call, text, or send your details. Samia personally reviews every situation and guides you through each step of the process.
(561) 827-4700