Conventional home loans.
A conventional loan is a mortgage not backed by the federal government, making it a popular choice for buyers who meet standard credit and down payment requirements. It supports a wide range of property types, offers flexible term lengths, and allows you to skip private mortgage insurance entirely when you put down 20% or more.
I can assist with your home loan in 49 states, excluding New York.
Are you ready to buy a home and looking for the right financing option? Conventional home purchase loans offer flexibility and competitive rates, making them a popular choice for many homebuyers. With a variety of loan programs available, we can help you find the perfect loan to fit your needs and budget.
What is a conventional home purchase loan?
A conventional home purchase loan is a mortgage that is not insured or guaranteed by the federal government. These loans typically require a higher down payment and have stricter credit requirements compared to government-backed loans like FHA and VA loans. However, they offer flexibility in terms of loan amounts and property types.
Benefits of conventional home purchase loans
- Flexible loan options: Conventional loans come in various term lengths, allowing you to choose a loan that fits your budget and financial goals.
- Compare the actual quote: Review the rate, fees and payment for your scenario alongside other options. The right comparison depends on the loan terms and your plans.
- No mortgage insurance with 20% down payment: If you can make a 20% down payment, you can avoid paying private mortgage insurance (PMI), which can lower your monthly payments.
- Flexible property requirements: Conventional loans can be used to purchase a wide range of property types, including single-family homes, condos, and multi-family properties.
How does it work?
- Pre-qualify Contact us to get pre-qualified for a conventional home purchase loan. This will give you an idea of how much you can afford to borrow. When you are ready to write offers, step up to a documented pre-approval.
- Find your dream home Work with a real estate agent to find a home that meets your needs and budget.
- Apply for your loan Complete the loan application process with Dan Friel.
- Underwriting and approval Our underwriting team will review your application and documentation to determine if you qualify for a loan.
- Closing Once your loan is approved, you'll sign the necessary paperwork and close on your new home.
Why choose us for your conventional home purchase loan?
- Expert advice: I’ll guide you through the loan process, ensuring you understand your options and make informed decisions.
- Personalized service: We treat every client as an individual, offering personalized service tailored to your unique needs and goals.
- Clear next steps: We understand the importance of a timely approval process. I’ll help organize your documents for the lender’s review and discuss the expected timing.
Start your homeownership journey today
Owning a home is within reach with a conventional home purchase loan. Contact us today to learn more about conventional loans and how they can help you achieve your dream of homeownership.
Be confident you're in the right mortgage. We have the unique capability to be your mortgage consultant and broker all in one. With over 160 lenders to choose from, let us do the shopping for you.
Frequently asked questions
What is a conventional loan and who is it for?
A conventional loan is a mortgage that is not insured or guaranteed by the federal government. It is a popular choice for homebuyers who meet the credit and down payment requirements, and it can be used to purchase a wide range of property types including single-family homes, condos, and multi-family properties.
How much do I need to put down on a conventional loan?
Down payment requirements vary by program. One well-known benefit is that if you can put down 20%, you avoid paying private mortgage insurance, which can lower your monthly payments. We can walk you through the options that fit your budget.
Do conventional loans require mortgage insurance?
If you make a 20% down payment, you can avoid private mortgage insurance entirely. That is one of the key advantages of conventional loans over some government-backed programs, and it can meaningfully reduce what you pay each month.
What kinds of properties can I buy with a conventional loan?
Conventional loans offer flexible property requirements. You can use one to purchase single-family homes, condos, and multi-family properties. That flexibility makes them a versatile option for many different buyers.
How do I get started with a conventional loan in Arizona?
The first step is getting pre-qualified, which gives you a clear picture of how much you can borrow. From there, you work with a real estate agent to find a home, complete the loan application, and move through underwriting and closing. We can guide you through each step and shop your scenario across 160+ lenders.
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Start your application in minutes, or grab a time and we'll walk through your scenario together.