Conventional Loans in Arizona, Washington, Oregon, & California

Who May Benefit From a Conventional Loan

Conventional loans are one of the most popular financing options because they offer flexible terms, competitive rates, and options for a wide range of borrowers. They may be a strong fit if you have solid credit, stable income, and are looking for long-term flexibility.

Conventional financing may be a good option if you:

• Have good to excellent credit (typically 620+ minimum, 680+ for stronger pricing)
• Have a stable income and manageable monthly debt
• Can put down at least 3-5%
• Are purchasing a primary home, second home, or investment property
• Want competitive rates and flexible loan structures
• Prefer to avoid upfront mortgage insurance fees
• Have some cash reserves

Down Payment Requirements

Down payment requirements vary depending on occupancy and borrower profile. Putting more down can improve approval strength and lower monthly costs.

Primary Residence:

• 3% down — First-time buyer programs
• 5% down — Standard conventional purchase
• 10–20% down — Lower monthly payment and stronger profile
• 20%+ down — No private mortgage insurance (PMI)

Second Home:

• Typically, 10–20% minimum down

Investment Property:

• Typically, 15–25% minimum down
   

Equity Requirements for Refinancing:

If you are refinancing, the amount of equity in your home plays an important role in program eligibility and pricing.

Rate & Term Refinance:

Typically, 3–5% minimum equity required
Better pricing typically available with 20%+ equity

Cash-Out Refinance:

Primary residence:

• up to 80% loan-to-value (LTV)

Second home:

• up to 75–80% LTV

Investment property:

•  Limits may vary based on credit score, occupancy, and overall borrower profile.

 
Key Benefits of Conventional Loans

Competitive interest rates
- Flexible loan terms
- Cancelable PMI once sufficient equity is reached
- No upfront mortgage insurance fee
- Financing available for primary homes, second homes, and investments
- Higher loan limits compared to many government programs
 

Eligible Property Types

- Single-family homes
- Townhomes
- Warrantable condominiums
- Planned Unit Developments (PUDs)
- 2–4 unit properties
- Primary residences
- Second homes
- Investment properties
- Manufactured homes and non-warrantable condos may have additional restrictions.

What Is a Conventional Loan?

A conventional loan is a mortgage that is not insured or guaranteed by a government agency like FHA, VA, or USDA. Most conventional loans follow guidelines set by Fannie Mae and Freddie Mac and are one of the most common loan types for homebuyers and homeowners.

 
Locations We Serve

Conventional loan programs are available across Arizona, Washington, California, and Oregon.

 
Find Out If a Conventional Loan Is Right for You

Our team can help you review your options and build a financing strategy based on your goals, timeline, and financial profile. Reach out today to get started.