Start with your monthly comfort
We look beyond the purchase price to taxes, insurance, association dues, and the other priorities your income needs to support.
Conventional loans
A familiar loan. A plan that’s personal.
Conventional financing can support a first home, your next move, or a refinance. The right structure depends on your budget, the cash you want to keep available, and how long you expect to keep the loan.
When to consider conventional loans
You want to compare down payments and repayment terms without being limited to a government-backed loan program.
Choose how to use your cash
A larger down payment reduces the amount borrowed. A smaller one may preserve savings for moving, repairs, or an emergency fund. Compare both approaches.
Include mortgage insurance
Conventional loans often require private mortgage insurance when you put less than 20% down. The cost depends on the loan and borrower; compare the full payment, not just the rate.
Down payment and PMI: compare them together
Do I need 20% down?
A 20% down payment is not required for every conventional loan. A smaller down payment may mean mortgage insurance and different pricing. Ask for a comparison that includes the payment, cash needed, and costs over the time you expect to keep the loan.
Should I use more of my savings?
Compare the reduced loan payment with the savings you would still have after closing. Money needed for repairs, moving, and an emergency cushion belongs in that decision.
Learn more: CFPB: Understanding private mortgage insurance. Program and lender requirements vary.
Your next step
Compare two down payments.
Bring a price range and the amount of cash you would feel comfortable using. We can compare a smaller and larger down payment using actual lender terms.