Conventional Loans
Conventional Loans
The most common mortgage — flexible, competitive, and widely available.
What It Is
A conventional loan is a mortgage not backed by a government agency. It's the most popular loan type in the U.S., offering flexible terms, competitive interest rates, and a wide range of down payment options — as low as 3% for qualified borrowers.
Who Qualifies
Borrowers with a credit score of 620 or higher, stable income, and a debt-to-income ratio under 45% typically qualify. Strong credit profiles (740+) unlock the best rates.
Basic Requirements
—Minimum 620 credit score (680+ recommended)
—Debt-to-income ratio under 45%
—Stable 2-year employment history
—Down payment of 3–20%
—Private mortgage insurance (PMI) required if less than 20% down
Key Benefits
Down payments as low as 3%
No upfront mortgage insurance premium
PMI can be removed once you reach 20% equity
Available for primary, second home, and investment properties
Loan amounts up to conforming limits ($766,550 in most NJ/NY counties)
Jumbo options available above conforming limits
Ready to Get Started?
Talk to a loan officer today. We'll review your situation and find the best program for you — no obligation.