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Explore our curated list of lenders who specialize in conventional loans—ideal for borrowers with strong credit and stable income seeking competitive rates.
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What is a conventional loan?
A conventional loan is a mortgage not backed by the government. It typically requires good credit, a steady income, and a down payment—often 3% to 20%.
Who qualifies for a conventional loan?
Most conventional loans are available to buyers with credit scores above 620, a low debt-to-income ratio, and a solid financial history. Higher scores often get better rates.
How much do I need for a down payment?
Down payments usually range from 3% to 20% of the home’s price. Putting 20% down lets you avoid private mortgage insurance (PMI), lowering your monthly cost.
Are there limits on conventional loans?
Yes. Loan limits vary by location and are updated annually. For 2025, most conforming loans are capped around $750,000, with higher limits in certain high-cost areas.