Agency pricing for the file that fits.
Conforming Fannie Mae and Freddie Mac loans for buyers with documented income and a clean credit file. Your file gets priced against our wholesale lender pool — the rate sheets retail banks mark up before quoting you.
How wholesale conventional pricing works
A conventional loan is any mortgage that conforms to Fannie Mae or Freddie Mac guidelines — the loans most banks, credit unions, and online lenders sell. The guidelines are the same everywhere. The pricing is not.
When you apply at a retail bank, you get that one bank’s rate sheet. When you apply through Verified Home, the same file is priced against a pool of wholesale lenders competing for it. Same Fannie/Freddie loan, same guidelines — the difference is who marks it up before quoting you.
Down payment and term options
Owner-occupied purchases start at 3% down for qualifying first-time buyers and 5% down for repeat buyers. Second homes start at 10% down, and investment properties at 15%. Mortgage insurance applies under 20% down but drops off — unlike FHA, where it usually sticks for the life of the loan.
Terms run from a 30-year fixed down to a 10-year fixed, plus 5/6, 7/6, and 10/6 SOFR ARMs for buyers who want a lower start rate and don’t plan to hold the loan for thirty years. We’ll model the options side by side so the trade-offs are visible before you lock anything.
Conventional Loans: common questions
What credit score do I need for a conventional loan?
Conforming guidelines start at a 620 FICO, but pricing improves meaningfully at 680, 720, and 760+. If your score is below roughly 660, we’ll usually run the file against FHA too — sometimes the government option wins on total monthly cost.
How much do I need to put down?
As little as 3% on an owner-occupied purchase for qualifying first-time buyers, 5% for repeat buyers, 10% for a second home, and 15% for an investment property. Gift funds from family are allowed on primary residences.
When does mortgage insurance come off a conventional loan?
PMI can be removed once you reach 20% equity by request, and lenders must cancel it automatically at 22% equity based on the original amortization schedule. That’s a key advantage over FHA, where mortgage insurance typically lasts the life of the loan.
Can I use a conventional loan for an investment property?
Yes — conventional financing covers 1–4 unit investment properties with 15–25% down, and Fannie Mae allows up to 10 financed properties per borrower. If you’re past that limit or can’t document income, a DSCR loan is usually the next stop.
Send us the scenario. We'll tell you if Conventional is the right fit — and what it prices at.
No SSN, no credit pull. A Verified Home loan officer reviews the scenario and replies by the next business day.
Program features described above are general descriptions of loan programs offered by third-party lenders and are subject to change without notice. This is not an offer of credit or a commitment to lend. All loans are subject to credit approval, income and asset verification, property appraisal, and program eligibility requirements. Not all applicants will qualify. Verified Home LLC is a mortgage broker, not a lender, and arranges loans with third-party providers. NMLS #2693996. Equal Housing Opportunity.