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Conventional loans are not insured by any government program and are the most common type of mortgage. Conforming conventional loans follow the loan amount guidelines set by Fannie Mae and Freddie Mac. Nonconforming loans, on the other hand, don’t meet those guidelines, but they are still considered conventional. Conventional loans often have higher down payment requirements than government-sponsored loans like FHA loans and USDA RD loans.




  • Competitive interest rates and lower fees

  • Down payments as low as 3%

  • Borrow up to 97% of home’s value

  • Available for primary residences, second homes and rental properties

If you’re interested in securing a home loan tailored for your unique needs, Heritage Home Loans can help you make it happen. Please contact us today or apply online in less than 10 minutes using the secure online application below.

Conventional loans are categorized as loans that meet guidelines set forth by Fannie Mae or Freddie Mac, who provide a secondary market for mortgages. The underwriting guidelines are tighter than other types of mortgages, but the short and long term costs can be significantly lower to the burrower(s).

If you have good credit, have not had any major derogatory credit events in the past 7 years, and can afford to put at least 3% down, a Conventional loan may be the right choice. Your monthly payment could be much more affordable compared to other programs such as FHA.


  •  Minimum Down Payment

  • Terms (Years)
30, 25,20,15 Fixed and Adjustable

  • Gift Funds Allowed

  • Eligible Homes
Single & Multi-Family, Manufactured, Condo

  • Seller Paid Closing Costs
Up to 6% of the Sales Price

  • Loan Limits
$453,100 Most US Counties / $679,650 AK & HI

  • Max DTI

  • Minimum Credit Score
620 Mid-Score

  • Availability
All US States, Owner Occupied, 2nd Home, Investment