Conventional Mortgage Loans
The bedrock of residential home financing. Backed by Fannie Mae and Freddie Mac, conventional loans offer competitive rates, flexible terms, and private mortgage insurance (PMI) that can be canceled once you reach 20% equity.
Primary Homebuyers, 2nd Home Buyers & Investors
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Program at a Glance
- Down Payment
- As low as 3%
- Credit Score
- 620+ (typical)
- Occupancy
- Primary, 2nd home, investment
- Term
- 10–30 yr fixed
- Property Type
- 1–4 unit residential
Key Program Highlights & Advantages
Down payments as low as 3% for qualifying first-time buyers
No upfront mortgage insurance premium
Cancelable monthly PMI once reaching 20% equity
Available for Primary Residences, 2nd Homes, & Investment properties
10, 15, 20, & 30-year fixed terms available
General Qualification Standards
Compare Similar Programs
| Program | Down Payment | Credit Score | Occupancy | Term |
|---|---|---|---|---|
| Conventional Mortgage Loans | As low as 3% | 620+ (typical) | Primary, 2nd home, investment | 10–30 yr fixed |
| FHA Mortgage Loans | 3.5% down | 580+ (3.5% down); lender overlays often higher | Primary residence only | 15 & 30 yr fixed |
| VA Mortgage Loans | 0% | Set by lender (no FHA-style minimum) | Primary residence | 15 & 30 yr fixed |
Figures shown are typical ranges and vary by lender, program, and borrower profile.
Rates, terms, and program availability are subject to change without notice and depend on borrower qualification and underwriting approval. This is not a commitment to lend. Contact Oakley Pike for current program guidelines.
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