Conventional Loan

A conventional mortgage is a popular home loan option for borrowers with good credit and stable income, offering flexible terms.

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What’s a Conventional Loan?

A conventional loan is a type of mortgage loan that is not insured by the government but is backed by private lenders. Conventional loans can offer excellent advantages for those who qualify. They can also offer financing for property types that are commonly restricted by other loan types.

Benefits

As low as 3% down payment

Higher credit could mean better interest rate

Mortgage insurance (PMI) can be terminated after 20% equity is achieved

More lenient appraisal and property requirements

Faster processing

Variety of term options

Qualifications

Proof of income

Proof of assets

Proof of down payment/gift source

Minimum credit score based on loan type*

Loan limits vary by county**

*To find out which loan types your credit score qualifies for, call (800) 865-6266 or email [email protected]

**To learn more about your county’s Conventional income limits, please visit: Fannie Mae and Freddie Mac

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Download the free RWM Home Loans Fluid Mobile App today and get started on your journey to homeownership.

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The team was tremendously attentive to our every need and only had our goals and best interests in mind. Would work with them again anytime.

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Everyone on the team was really professional, helpful and dedicated to make the whole process as smooth as possible. Whenever we had a question or concern, we always received a prompt reply.

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Extremely responsive, website was brilliant, clear list of what we needed and stayed on us until it was complete, knew who to send us to for tax transfer from our previous house. We will definitely refer our friends and family to RWM.

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The communication on the process and the ability to sign documents electronically was a life saver. The availability and speed of answers were great.

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You helped me understand all my options, which made me feel more confident in the decision I had to make. You were on top of everything that had to be done and kept things moving in an efficient way.

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The team was easy to work with and willing to answer all of my questions. They even worked with a notary in North Carolina so I didn’t miss my vacation.

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Everything was fully explained from the beginning, and I felt like we worked as a team when we went step by step in our journey of getting financed for our first home.

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Buying a house can be overwhelming but when you have someone you trust it makes it so much easier. We felt assured that we were in good hands and that we would get to the finish line during the escrow process.

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