The standard loan. Done right.
Flexible terms, competitive rates and mortgage insurance that goes away. For buyers with solid credit who want the most straightforward path to closing.
The most common mortgage in America, with the most pricing flexibility.
Conventional loans follow Fannie Mae and Freddie Mac guidelines rather than a government agency. Strong credit and a reasonable down payment unlock the best rates, and private mortgage insurance drops off once you reach 20% equity.
Who it fits
- Buyers with credit scores of 620 or higher
- Down payments from 3% to 20% or more
- Primary homes, second homes and investment properties
- Borrowers who want to avoid upfront mortgage insurance
- Refinancing out of FHA to remove monthly MIP
Let’s find the right fit.
Apply now or talk through your options with Erick.
Why borrowers choose Conventional loans.
Rates that reward good credit
Pricing improves as your score and down payment increase. No one-size-fits-all rate.
PMI that cancels
Private mortgage insurance is removed at 20% equity. FHA insurance usually is not.
Any property type
Single-family, condos, townhomes, 2 to 4 units, second homes and rentals.
Fast approvals
Automated underwriting means most files are approved within days of submitting documents.
Higher loan limits
Conforming limits adjust annually, with higher ceilings in high-cost counties.
Fixed or adjustable
Lock a 30-year fixed, pay off faster with a 15-year, or lower the payment with an ARM.
Typical requirements
Credit score of 620 or higher (higher scores earn better pricing)
Down payment of at least 3% (first-time buyers) or 5%
Debt-to-income ratio typically under 45% to 50%
Two years of stable income history
Cash reserves may be required for second homes and rentals
Guidelines vary by lender, program and property. Erick will confirm exact requirements for your file.
How it works
Quick call.
Ten minutes on the phone. You tell Erick the goal, he tells you the realistic options.
Pre-approval.
Send documents through a secure link. Most pre-approvals are issued the same day.
Lock and process.
Rate locked, file submitted, updates in plain English every step.
Close.
Sign with a remote online notary where available, or in person. Keys in hand.
Conventional loans FAQ
How much do I need to put down?
As little as 3% for qualifying first-time buyers and 5% for most others. Putting 20% down removes private mortgage insurance entirely.
What credit score do I need?
Most lenders require 620 or higher. Scores above 740 generally get the best pricing.
Is a conventional loan better than FHA?
Often, if your credit is strong. Conventional has no upfront mortgage insurance and PMI can be cancelled. FHA is more forgiving on credit and debt ratios. Erick runs both side by side so you can compare the real cost.
Can I use a conventional loan for a rental property?
Yes. Investment properties typically require 15% to 25% down and have slightly higher rates.
What is the conforming loan limit?
It changes every year and is higher in high-cost areas. Loans above the limit are jumbo loans, which West Capital Lending also offers.
Ready to talk numbers?
Call, email or send a quick message. Erick answers questions directly and tells you what fits, and what does not.
