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Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
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Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
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Buy
Apply Now
Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
Refinance
Apply Now
Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Rates
Resources
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Products
Navigate all our loan product options and find the perfect loan for you.
Customers
About
Conventional loan
Conventional loans are not insured by a government agency, making them one of the most flexible and widely mortgage options. They’re ideal for borrowers with good credit and stable income looking for competitive rates and customizable terms.
Versatile and Widely Accepted
The industry standard for strong borrowers seeking flexible terms and competitive rates.
Flexible Down Payment Options
Start with as little as 3% down, or go higher to avoid mortgage insurance.
Customizable Terms
Fixed or adjustable rates, 10 to 30 year terms. Design your loan around your lifestyle.
PMI That Works in Your Favor
Private mortgage insurance drops automatically once you reach 20% equity.
Finance Almost Any Property
From primary homes to vacation getaways or investment properties, conventional loans fit nearly every need.
Frequently asked questions
Everything you need to know about Conventional loan
What are the qualifications for a Conforming Mortgage?
To qualify, you typically need a credit score of at least 620, a debt-to-income ratio under 45% (though some programs go higher), and a loan amount within the conforming loan limits set by Fannie Mae or Freddie Mac.
What's a "conforming loan limit"?
This is the maximum loan amount that Fannie Mae and Freddie Mac will back, and it's updated annually. Loans above this limit are considered "non-conforming" or "jumbo."
Do I need mortgage insurance with a conforming loan?
Yes, if your down payment is less than 20%. Once you reach 20% equity, you can request to have PMI removed, making it a temporary cost.
Can I use a conforming loan for an investment property?
Yes, but you'll need a larger down payment (typically 15-25%) and meet stricter credit requirements compared to primary residences.
What's the benefit of a conforming mortgage over a jumbo?
Conforming loans typically come with lower interest rates, smaller down payment requirements, and easier qualification standards compared to jumbo loans.