Purchase loans
Conventional
Traditional mortgage financing for borrowers with documentable income — the most common path to buying or refinancing a home.
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Conventional at a glance
Mainstream financing
The standard mortgage route for qualifying buyers.
Predictable payments
Fixed-rate options keep principal and interest steady.
Purchase or refinance
Works for buying a home or restructuring a current loan.
Broad property eligibility
Available for many single-family homes and condos.
What is a conventional loan?
A conventional loan is a mortgage that is not backed by a government agency. It follows standard agency guidelines and is the most widely used type of home financing.
Qualification typically centers on documentable income, credit history, and a down payment. Fixed-rate options keep the monthly principal and interest predictable for the life of the loan.
01
Your finances
02
Agency underwriting
03
Conventional financing
Who conventional financing may be for
The most common mortgage path — built around documentable income and standard down payments.
01W-2 income earners
Salaried or hourly borrowers with documentable income.
02Primary-residence buyers
The standard route for buying a home you plan to live in.
03Predictable-payment seekers
Borrowers who want a steady fixed principal-and-interest payment.
04Typical down payments
Buyers with a standard down payment saved.
Example scenario
See how it could work
The borrower
A buyer with steady W-2 income purchasing a $520,000 primary residence.
The structure
10% down with a 30-year fixed-rate conventional loan.
The payment
Predictable principal and interest for the life of the loan.
Mortgage insurance
May apply until the loan reaches 20% equity.
Illustrative example only. Actual financing structure, terms, eligibility, and availability vary.
Frequently asked questions
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Program recommendations are informational until reviewed by an appropriately licensed mortgage professional. All loans are subject to credit and property approval; terms, eligibility, and availability vary.