Conventional Home Loans
Rich Surek, MLOP CMHS
Senior Loan Officer NMLS# 17742
Senior Loan Officer NMLS# 17742
A conventional mortgage is not associated with the VA or FHA. They are called conventional loans because they adhere to conventional standards within legal limits by mutual consent of the lender and borrower.
It’s an option that generally requires at least 5% down on the loan amount, but can be as low as 3% for some buyers. With a 20% down payment, private mortgage insurance (PMI) is no longer required.