Conventional Loan
What is a Conventional Loan?
A Conventional Loan is the most common type of mortgage, offering flexible terms and competitive rates for borrowers with solid credit and financial stability. These loans are not backed by the government and typically offer more program choices and fewer restrictions.
Key Benefits
- Flexible Down Payment Options – As low as 3% down for qualified buyers
- Competitive Interest Rates – Strong credit is rewarded with better pricing
- No Upfront Funding Fees – Unlike FHA or VA
- Wide Property Eligibility – Primary homes, second homes, investment properties
- Potential to Remove PMI – PMI can be cancelled once you reach 20% equity
- Multiple Term Options – 15-, 20-, or 30-year terms
Is a Conventional Loan Right for You?
A Conventional loan may be ideal if you:
- Have good to excellent credit
- Can provide a down payment (3%–20%+)
- Prefer more property flexibility (rentals, vacation homes, etc.)
- Want to avoid upfront mortgage insurance premiums
- Plan to build equity quickly and remove PMI in the future
Hickson Lending helps you compare rates, choose the best term, and tailor your conventional mortgage to your long-term financial goals.
Have More Questions?
If this loan feels like the best match for your financial strategy, we’d be happy to walk you through your options.
Schedule a call below to get started with a Conventional loan..