Government-Backed

Conventional Loans

Standard conforming loans with competitive rates. As little as 1% down for qualified buyers, no upfront mortgage insurance premium, and better pricing for borrowers with strong credit.

Min. Down (680+ credit)

620+

Min. Credit Score

99%

Max LTV

Broker Fees

Program overview

Minimum Credit Score620 (680+ for 1% down)

Down Payment1%–3% (with grant programs)

Maximum LTVUp to 99%

DTI LimitUp to 50% with strong profile

Loan LimitsConforming limits vary by county

Mortgage InsuranceRequired under 20% down; cancellable at 20% equity

Upfront MIPNone (unlike FHA)

Property TypesPrimary, second home, investment

Conventional vs. FHA

Conventional loans are often the better choice for buyers with 620+ credit who want to avoid the FHA's upfront mortgage insurance premium and potentially higher monthly MI costs.

Our 1% down conventional program lets qualified buyers (680+ credit score) put just 1% down — the lender contributes a 2% grant — making it competitive with FHA while avoiding FHA's upfront MIP.

Mortgage insurance on conventional loans is also cancellable once you reach 20% equity, unlike some FHA loans where MI runs for the life of the loan.

Min. down with grant program

20%

Equity needed to cancel MI

Find your best conventional rate.

We compare conventional pricing across 100+ lenders to find the best rate for your credit profile and down payment.

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