Conventional Loan
Flexible, widely-used, and competitively priced
Conventional loans conform to Fannie Mae and Freddie Mac guidelines and offer some of the lowest rates available. With loan limits up to $766,550 (and higher in high-cost areas), they cover most purchase scenarios.
Key Advantages
Why Choose a Conventional?
Here's what sets this loan product apart and who it works best for.
Low Down Payment
Put as little as 3% down for first-time buyers, or 5% for repeat buyers, with competitive rates.
No Upfront MIP
Unlike FHA loans, conventional loans have no upfront mortgage insurance premium.
PMI Can Be Removed
Once you reach 20% equity, PMI can be cancelled — reducing your monthly payment.
High Loan Limits
Standard conforming limit of $766,550 in most areas, with higher limits in high-cost counties.
Calculator
Purchase Calculator
Estimate your monthly payment for a home purchase.
Loan Term
Calculator results are estimates only and do not constitute a loan offer, pre-approval, or commitment to lend. Actual terms may vary.
Eligibility
Qualification Requirements
General guidelines for Conventional Loan eligibility. Requirements vary by lender and scenario.
| Requirement | Guideline |
|---|---|
| Minimum Credit Score | 620+ |
| Minimum Down Payment | 3% (first-time buyers) / 5% (repeat buyers) |
| PMI Required | If down payment < 20% |
| Loan Limit | $766,550 (standard); higher in high-cost areas |
| Debt-to-Income | Typically ≤ 45% |
These are general guidelines only. Specific program requirements may vary. Contact us for a personalized review of your scenario.
FAQ
Frequently Asked Questions
Common questions about Conventional Loan loans.
Get Started Today
Ready to explore Conventional Loan?
Answer a few quick questions and get a personalized strategy recommendation — including whether Conventional is right for your situation.
West Capital Lending, Inc. is an Equal Housing Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, handicap, or familial status.
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