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Conventional Home Loans

Explore flexible financing with conventional home loans.

Conventional mortgages offer competitive rates, diverse term options, and fewer restrictions—perfect for buyers with good credit looking for straightforward terms and lower costs.

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No-impact credit check. No commitment.
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Conventional Home Loan Benefits

Secure a competitive, fixed-rate conventional loan.

Conventional loans offer popular 15- and 30-year terms, ideal for budget-friendly monthly payments and long-term stability. Find the perfect fit for your financial goals.

Competitive interest rates
Flexible loan terms
Lower Private Mortgage Insurance (PMI)
Fewer restrictions & property requirements
Wide loan limit options

Today's Conventional Loan Rates

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A better, all-digital experience with 30,000+ 5-star reviews.

Check ‘em out on: Google | Zillow | Bankrate

5.0

Tawna was open and transparent with any and all questions. As being first time home buyer it was a nervous first step to see what we could quality for and she made it easy and enjoyable!

Kenneth W.

Verified Customer

September 27, 2026

5.0

Tim and his team made it great!

Marie G.

Verified Customer

September 3, 2026

5.0

Chris was very helpful even when we hit a few roadblocks. He communicated well and kept me and my wife up to date on everything.

Jonathan R.

Verified Customer

July 21, 2026

5.0

Very honest, communitive, and educated on the process.

Vamiche M.

Verified Customer

August 26, 2026

5.0

He was really knowleage it was couple error they did at the beginning like the origination loan at 5% but he corrected and everything el was smoot h

Lismary R.

Verified Customer

July 31, 2026

5.0

The support , taking care of all the details , always keeping us inform of the process step by step, very professional . great custome service skills, knowledgeable, made the process easy and flaw less

Arturo P.

Verified Customer

August 25, 2026

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30-year fixed rate mortgage

Enjoy long-term stability and manageable monthly payments with a 30-year fixed rate mortgage from Lower. Perfect for those seeking predictability and a comfortable budget fit.

Get a personalized 30-year rate quote

15-year fixed rate mortgage

Pay off your home faster and save on interest with a 15-year fixed rate mortgage from Lower. Ideal for those who want to build equity quickly and secure long-term savings.

Get a personalized 15-year rate quote
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Shop your heart out. No credit check until you’re ready to buy

Your credit is important, so we don't do a hard pull until you're absolutely ready. (And we'll always ask for permission when we do.)

Get pre-qualified for a conventional loan
Frequently Asked Questions

You’ve got conventional loan questions. We’ve got answers.

Conventional loans are the most common type of home loan, and feature a wide range of options when it comes to down payment, loan structure, and the type of property you’re buying.

Qualifying first-time homebuyers may be able to put down as little as 3%, while other borrowers may qualify with a down payment as low as 5%. Some buyers also opt for a larger down payment to reduce their monthly payment and avoid private mortgage insurance, or PMI.

Conventional loans differ from government-backed loan types like FHA loans in that they can be used for a wide range of property types, including primary residences, second homes, and investment properties, depending on eligibility.

Credit score requirements vary depending on your unique financial situation, as do debt-to-income requirements. 

Do I need to pay private mortgage insurance (PMI) on
a conventional loan?

If you make a down payment of less than 20%, PMI is typically required. However, once you reach 20% equity, you can request to have PMI removed, which lowers your monthly payments.

What credit score do I need to qualify for a conventional loan?

Conventional loans generally require a credit score of at least 620. However, higher scores may help you secure better rates and terms, especially with lower down payments.

What is a conventional loan, and how does it differ from
government-backed loans?

A conventional loan is a mortgage not insured by the government, unlike FHA, VA, or USDA loans. It typically has fewer restrictions and may offer better rates for qualified buyers with good credit.

Learn More

Conventional Mortgage Resources

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