A familiar path to your next home.
Compare conventional mortgage options for a purchase or refinance. Your loan team can help you weigh the loan term, upfront costs, and monthly payment together.
Could this fit your plans?
- You are buying or refinancing a primary home.
- You want to explore an eligible second home or investment property.
- You can document income and assets under the selected program’s guidelines.
What to have ready
Your exact checklist depends on the lender and your situation. A helpful starting point:
- Income records such as pay statements, W-2s, or tax returns, as applicable.
- Bank or asset statements for down payment, closing costs, and reserves.
- Property information, purchase contract if available, and current mortgage details for a refinance.
How lenders review this loan
These lender-specific examples show details that can shape your options. Your loan team will help you compare the requirements for your situation.
How you will use the home
Primary residences, second homes, and investment properties have separate requirements in the example matrix.
Purchase or refinance
Purchase, rate-and-term refinance, and cash-out refinance are reviewed separately; the same limits do not apply to every purpose.
Location and property size
The applicable conforming loan limit depends on the county and number of units. Agency requirements and the lender’s additional criteria also apply.
A clear path forward.
Tell us what you have in mind
Start with your goal, property plans, and how you document income. Your loan team will help identify the relevant programs.
Review options with your loan officer
Compare the documentation, estimated costs, and payment structure. Understand what the lender needs before you move forward.
Build your application together
Your team guides you through the requested documents, lender review, and remaining steps toward closing.
Questions about conventional loans?
Are conventional loans only for primary residences?
No. Eligible second homes and investment properties may also qualify. Occupancy and property type can change down payment, reserve, and other requirements.
Will I need mortgage insurance?
Mortgage insurance may be required depending on the loan-to-value ratio and program. Your loan officer can explain its cost and any applicable cancellation requirements.
Can self-employed borrowers get a conventional loan?
Yes, if the income and other requirements are met. Your loan team can review the necessary business and personal income records and compare alternative programs where appropriate.
Let’s find the right next step.
Start with a few details, then work with our loan team to compare your options.
Programs are subject to lender availability, borrower and property eligibility, and underwriting approval. This information is not a commitment to lend.