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Loan Qualifications
Basic Requirements for Conventional Financing
Understand the minimum credit, income, and down payment criteria for conventional loans
Credit Score
Minimum score most lenders require for approval
Down payment
PMI applies below 20% down payment
Debt-to-income
Total monthly debts vs. gross monthly income
Loan limits
Limits vary by location and property type
Conventional Rates
Compare Today's Conventional Mortgage Rates
Explore current fixed and adjustable-rate mortgage options to find the best loan for your home purchase
Loan Type30-Year Fixed
Rate4.74%
APR4.85%
Monthly Payment$1,565
Loan Type15-Year Fixed
Rate4.74%
APR4.85%
Monthly Payment$1,565
Loan Type5/1 ARM
Rate4.74%
APR4.85%
Monthly Payment$1,565
| Loan Type | Rate | APR | Monthly Payment | Action |
|---|---|---|---|---|
| 30-Year Fixed | 4.74% | 4.85% | $1,565 | |
| 15-Year Fixed | 4.74% | 4.85% | $1,565 | |
| 5/1 ARM | 4.74% | 4.85% | $1,565 |
Why Conventional
Why Choose Conventional Loans?
Lower Interest Costs
Pay less interest over the life of your loan
Flexible Terms
Choose loan terms that match your budget and financial goals
Broad Lender Availability
Access rates from a wide network of trusted mortgage lenders
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