Mortgage financing that is not insured or guaranteed by a government agency.
Overview
Conventional mortgages include conforming loans that meet Fannie Mae or Freddie Mac requirements, as well as other non-government loans. A conforming loan must satisfy the applicable loan limit and underwriting rules. The right comparison includes the payment, fees, mortgage insurance, and cash needed to close.
Credit requirements depend on the underwriting method and lender. Private mortgage insurance may apply and has specific cancellation rules; reaching an estimated equity level does not always remove it automatically. Compare actual options before assuming conventional or FHA will cost less.
Who it's for
What's typically reviewed
This is a general description, not a guarantee of approval. Specific requirements vary by lender and program. Final qualification is determined during underwriting.
Browse more programs
Purchase Loan
Financing to buy a primary residence, second home, or investment property.
Rate & Term Refinance
Replace your current mortgage with a new one at a different rate or term — without taking cash out.
Cash-Out Refinance
Replace your existing mortgage with a larger loan to access available equity.
Jumbo Loan
Financing above the applicable conforming loan limit.