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Conventional Loans

Conventional loans for qualified buyers.

Not backed by the government, which means less red tape and often better terms if your credit and income check out.

Check your eligibility 302-600-3197

Who it's for

  • Credit score typically 620+
  • Down payments as low as 3% for qualified first-time buyers, 5–20% otherwise
  • Stronger income and asset documentation than government-backed loans

Why buyers choose conventional

  • No upfront mortgage insurance premium like FHA
  • PMI drops off once you hit 20% equity
  • More flexibility on property type, including investment and second homes

What you'll need

Two years of income history, a current debt-to-income ratio under roughly 45%, and a down payment ready to go. We'll tell you exactly where you stand before you make an offer.

Frequently asked

What credit score do I need for a conventional loan?+

Most conventional programs look for a credit score of 620 or higher. Stronger scores unlock better rates and lower PMI.

How much down payment for a conventional loan in Delaware?+

As little as 3% for qualified first-time buyers, and typically 5% to 20% otherwise. Putting 20% down eliminates PMI.

How is a conventional loan different from FHA?+

Conventional loans aren't backed by the government, so they require stronger credit and income documentation, but they avoid FHA's upfront and lifetime mortgage insurance.

Can I use a conventional loan for a second home or investment property?+

Yes. Conventional loans offer more flexibility on property type than most government-backed programs, including second homes and investment properties.

Contact

Talk to Our Team Directly

No call centers, no runaround. Reach out and get real answers on what you qualify for before you fall in love with a house.