Conventional Loans: Rates, Requirements, & How to Qualify

Get the latest insights on Conventional Mortgage Loans. Learn about down payments, credit score requirements, interest rates, and refinancing options.


What is a Conventional Mortgage Loan?

A Conventional Mortgage is a type of home loan not insured by a government agency like the FHA, VA, or USDA. They are offered by private lenders and meet the funding criteria set by Fannie Mae and Freddie Mac.

The Benefits

Benefits of conventional loans


Variety in loan terms

Choose from various loan terms, such as 15, 20, or 30 years, depending on your financial goals.


Lower interest rates

Conventional loans often offer lower interest rates than government-backed mortgages, making them cost-effective in the long run.


Flexibility in Down Payment

Conventional loans often allow for a down payment as low as 3%, although a higher down payment may result in better terms.


Requirements for Conventional Loans


Credit Score

A minimum credit score of 620 is usually required, but a higher score may secure better rates.


Debt-to-Income Ratio

A Debt-to-Income ratio of less than 43% is generally recommended.


Private Mortgage Insurance (PMI)

PMI is typically required if the down payment is less than 20%

Types of Conventional Loan

Variety of conventional loans

Fixed-Rate Mortgage

The interest rate remains constant throughout the loan term.

Adjustable-Rate Mortgage (ARM)

The interest rate can change at predetermined intervals.

The Process

How to Apply For a Conventional Loan

  • Pre Approval: Understand how much you can afford.

  • Loan Application: Submit all necessary financial documentation.

  • Appraisal: The lender will assess the value of the home.

  • Loan Approval: After due diligence, the loan will be approved.

  • Closing: Finalize your mortgage with a closing meeting.


Cash-Out Refinancing Offers Homeownerships the Opportunity to tap into their Home’s Equity while Securing a new Mortgage with Potentially better Terms.

Let’s explain the benefits and advantages of Cash-Out Refinancing & how it could be the financial you are searching for.

Swift Programs

Explore Our Array of Loan Programs Tailored to Suit Your Needs

Discover home-ownership with our tailored loans. Our expert team ensures you get the perfect loan for your unique needs.


Our 1099 loans, provide flexible financing solutions tailored to your needs.

  • Min 640 FICO

  • Upto 90% Max LTV

  • Upto 50% DTI Ratio

  • Interest Only Available

  • 1/2 Year Form

Interested in this program


Asset depletion is a financial strategy utilized by lenders to assess a borrower's eligibility for a loan.

  • 2 Month Bank Statement

  • ITIN Program to 80%

  • Foreign National to 75%

  • 1099 Only & DSCR

  • 12 Month Bank Statement

Interested in this program


A specialized loan program for foreign nationals, providing tailored financing solutions.

  • Min 700 FICO

  • Upto 75% Max LTV

  • $ 3M Max Loan Amount

  • Asset Utilization allowed as an

  • eligible doc option

Interested in this program


Specialized mortgage products for financing units that are operated as part of a hotel or resort.

  • Min 680 FICO

  • Upto 65% Max LTV

  • $ 1.5M Max Loan Amount

  • Minimum square footage of 500 sq/ft

Interested in this program

Have Questions?

Curious about anything?

Below you can find the answers to frequently asked questions.

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