Modern apartment building background representing Utah rental properties and property management services

Conventional Loans

Traditional home loans with flexible terms and competitive rates

What is a Conventional Loan?

Conventional loans are traditional mortgages not backed by government agencies like FHA, VA, or USDA. They offer flexibility and competitive rates for qualified borrowers.

Flexible Down Payment

As low as 3% down payment for qualified buyers

No PMI with 20% Down

Eliminate private mortgage insurance with a 20% down payment

Competitive Rates

Get competitive interest rates based on your credit profile

Flexible Terms

Choose from 15, 20, or 30-year fixed-rate terms

Conventional Loan Requirements

Credit Score

• Minimum 620 for most programs
• 740+ for best rates
• Higher scores = better terms

Down Payment

• As low as 3% for qualified buyers
• 20% to avoid PMI
• Gift funds allowed

Debt-to-Income Ratio

• Maximum 43% DTI
• Lower DTI = better approval odds
• Consider all monthly debts

Employment

• 2+ years employment history
• Stable income required
• Self-employed options available

Conventional vs. FHA Loans

Conventional Advantages

• No upfront mortgage insurance
• PMI can be removed
• Higher loan limits
• More flexible terms

FHA Advantages

• Lower credit score requirements
• Lower down payment (3.5%)
• More lenient DTI ratios
• Government-backed

Ready to Apply?

Calculate Your Payment Get Pre-Approved