Loan Programs
Conventional Loans
The most widely used mortgage in America. Flexible guidelines, no upfront mortgage insurance, and competitive rates for qualified borrowers.
What is a conventional loan?
A conventional loan is any mortgage not backed by the federal government. Most conventional loans are "conforming" — meaning they meet the guidelines set by Fannie Mae and Freddie Mac, including loan limits that change annually. In most California counties the 2025 conforming limit is $806,500 for a single-family home; high-cost counties (like San Francisco and San Mateo) go higher.
Conventional loans are available for primary residences, second homes, and investment properties — something government programs often restrict. They also offer the widest variety of term lengths and fixed vs. adjustable-rate options.
At a glance
- ✓Down payment: as low as 3% for first-time buyers
- ✓PMI required if down payment < 20% (removable at 20% equity)
- ✓Minimum credit score: typically 620+
- ✓Debt-to-income ratio: typically up to 45–50%
- ✓Available for primary, second home, and investment
- ✓Fixed rates: 10, 15, 20, 25, and 30 years
- ✓Adjustable rates: 5/1, 7/1, 10/1 ARMs available
Who is it best for?
Conventional loans are ideal for borrowers with good credit (680+), stable income, and at least 5–10% to put down. If you can put 20% down, you avoid PMI entirely and get the cleanest loan structure available. They're also the go-to for second homes and rental properties.
Ready to see your rate?
Fill out our short pre-qual form — no credit pull, no commitment — and I'll shop our lender network for the best conventional rate for your scenario.