Conventional loans · Stable, predictable payments
Fixed-rate conventional loans give you stable payments, flexible down payment options, and the freedom to build a plan that fits your budget, not a one-size-fits-all program.
Conventional loans are not backed by a government agency. If you like to read first, the Conventional Loans Guide walks through down payments, mortgage insurance, and how conventional compares side-by-side with FHA and other options.
NMLS #277954 • Success Mortgage Partners • Conventional loans are not backed by a government agency. Eligibility, down payment, and mortgage insurance requirements vary by investor, lender, and location.
Coaching insight
Conventional loans reward strong credit, steady income, and responsible debt habits. They’re not backed by a government agency, which gives more flexibility in how your financing can be structured around your broader financial plan.
Buyers with solid credit and manageable monthly obligations who want a stable, fixed payment and room to customize their loan term.
Households with enough funds for a modest or larger down payment, especially if avoiding or removing PMI is part of the strategy.
People purchasing a second home or investment property who want conventional flexibility on occupancy, terms, and structure.
How it works
A conventional loan uses a fixed interest rate and an amortized schedule—meaning your principal and interest stay the same every month for the life of the loan.
We’ll look at how long you expect to keep the home, what payment feels comfortable, and whether paying extra toward principal makes sense for your bigger plan.
Not sure if you’re “qualified enough”? That’s exactly what a strategy call is for. We’ll review your picture and show you what’s realistic.
Choosing your term
The “right” term isn’t just about math. It’s about cash flow, risk tolerance, and your broader goals—kids, retirement, business, or building a portfolio.
Best when your income is strong, your budget has margin, and you value paying off the home faster over maximum monthly flexibility.
Best when you want a stable payment with room in the budget for other priorities—and like having the option, not the obligation, to pay extra.
Quick answers
A quick snapshot of the questions that come up most often when we talk about conventional loans, down payments, and how they stack up against FHA or other options.
Your principal and interest stay fixed for the life of the loan. The only changes you might see are from property taxes and homeowners insurance, which can adjust over time and are usually handled through your escrow account.
Yes. Many buyers use 3–5% down on a conventional loan. You’ll typically have private mortgage insurance (PMI) until you reach around 20% equity, at which point we can look at options to remove it.
Not always. Conventional often wins for higher credit scores and larger down payments. FHA can be a better fit for lower scores or higher debt-to-income situations. We’ll compare both side-by-side so you can see which one lines up with your goals and timeline.
Yes. Conventional loans do not have pre-payment penalties. You can make extra principal payments, pay bi-weekly, or pay the loan off entirely whenever it lines up with your financial plan.
Often, yes. Conventional guidelines allow gift funds from eligible sources for some or all of your down payment and/or costs, especially on primary residences. We’ll walk through the rules so the money is documented correctly and underwriters are comfortable.
We’ll compare 15- and 30-year terms, down payment options, and total cost over time so you can choose a plan that supports both today’s budget and tomorrow’s goals.
Programs, rates, and terms are subject to change without notice. Eligibility, underwriting, and documentation requirements vary by lender, investor, and location. This page is for informational purposes only and is not a commitment to lend. All loans subject to credit and collateral approval. All loans subject to approval. Equal Housing Lender.