The Backbone of the American Housing Market
Conventional mortgages are a core part of the U.S. housing market and are guided by standards set by Fannie Mae and Freddie Mac, two government-sponsored enterprises (GSEs). These agencies define the credit, income, and loan structure requirements that make a loan "conforming," creating consistency and stability across the mortgage industry.
Highlights
Low Down Payment Options
Max Debt-To-Income Ratio up to 45-50%
620 Min Credit Score
Private Mortgage Insurance May Apply
Choose Your Path
FAQ
HomeReady® VS Home Possible®
Rate Incentive for First-Time Homebuyers
Conventional Loan Types
FHA vs. Conventional
Credit Score Requirements
Private Mortgage Insurance
Loan-Level Price Adjustments
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Disclaimer: Information provided is for educational purposes only and is subject to change. All loan programs, interest rates, down payment requirements, and terms are subject to credit approval, underwriting guidelines, investor requirements, and may change without notice. Not all applicants will qualify. Restrictions may apply, including but not limited to geographic limitations, property type, and occupancy requirements.