Home Buying → Conventional Loans
Traditional Financing With Competitive Rates
The most popular choice for homebuyers with good credit. Down payments as low as 3% for qualified buyers.
Get My Quote
What Is A Conventional Loan?
Conventional loans are mortgages that aren't backed by a government agency like the FHA or VA. They're offered by private lenders and typically offer the best rates for borrowers with strong credit scores and stable income.
Unlike government-backed loans, conventional loans follow guidelines set by Fannie Mae and Freddie Mac. This means more flexibility in loan terms, competitive interest rates, and the ability to remove PMI once you reach 20% equity.
Conventional loans are ideal if you have a credit score of 620 or higher, a down payment of at least 3%, and a debt-to-income ratio below 45%. They're the go-to choice for most homebuyers who qualify.
Why Choose A Conventional Loan?
Low Down Payment
As low as 3% down for first-time buyers, 5% for repeat buyers. Conventional 97 program makes homeownership accessible.
Competitive Rates
Often the best rates for qualified borrowers. Strong credit scores unlock lower interest rates and save thousands over the life of the loan.
Flexible Terms
Choose from 10, 15, 20, or 30-year terms. Fixed or adjustable rates. Find the perfect payment schedule for your budget.
PMI Removal
PMI can be removed once you reach 20% equity. Refinance or request removal when your home value increases.
Requirements & What To Expect
Credit Requirements
- Minimum 620 credit score (680+ for best rates)
- Clean credit history with no recent bankruptcies
- Debt-to-income ratio typically below 45%
- Stable employment and income verification
The Process
- Pre-approval in 24-48 hours
- Property appraisal and inspection
- Underwriting review (typically 2-3 weeks)
- Average closing time: 30-45 days
Why Orange County Trusts Enzo
We've helped thousands of families secure conventional loans with competitive rates and exceptional service.
Ready To Get Pre-Approved?
Let's check your eligibility and find the best conventional loan rate for your situation. No obligation, just honest guidance.