Conventional Home Loans
A Conventional Home Loan is a mortgage offered by private lenders and is not insured or guaranteed by the government. It follows guidelines set by Fannie Mae and Freddie Mac and is commonly used for buying a home or refinancing an existing mortgage.
- Credit score typically 620 or higher
- Down payment from 3–5%
- Fixed or adjustable rates, various terms
- Private mortgage insurance (PMI) if you put down less than 20%
