Most buyers are shocked they can own with as little as 3% down and still get a great rate. Conventional is the workhorse behind roughly 7 in 10 purchase loans, and the PMI is cancellable.
Get My Free Game PlanFigures are typical 2026 guidelines and vary by borrower, property, and lender overlays; all loans subject to credit approval.
HomeReady® and Home Possible® add income limits but offer discounted pricing and reduced PMI for qualifying moderate-income buyers. The 2026 conforming limit is $832,750 in most counties (up to $1,249,125 in designated high-cost areas), so most buyers can use a low-down-payment conventional loan.
If your credit is below 700 with less than 20% down, FHA sometimes wins on payment because PMI gets pricier at lower scores. Connor runs your numbers both ways, conventional vs. FHA , so you choose based on your real monthly payment and cash to close.
As little as 3% for first-time buyers and 5% for repeat buyers. On a primary residence, the down payment can be 100% gift funds.
Private mortgage insurance is cancellable at roughly 20% equity, unlike FHA's mortgage insurance, which often lasts the life of the loan.
Yes. Conventional is the only lane that finances second homes and investment properties. Government loans (FHA, VA, USDA) are primary-residence only.
Pricing improves with score; 700+ is generally where conventional beats FHA. Connor will compare both so you get the lowest true payment.
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