The standard loan.
At better than standard rate.
Why go with a Conventional Loan?
Conventional is the most common mortgage for a reason, it's flexible, widely accepted, and for strong-credit borrowers, the most competitive option available. Your bank will give you one rate. As a broker with 100+ lending partners, I'll show you what the market actually offers.
Nobody else ran the numbers...
First-time buyers. Good credit, stable income, $50K saved. Every lender they talked to said the same thing — put 20% down, avoid PMI, done.
We ran the breakeven analysis instead.
At 10% down, PMI runs $180 a month. But that $50K staying invested at even a modest return outpaces the PMI cost until month 47. After that, 20% down wins. The question is what happens before month 47.
They had plans for that money in the next two years. The answer was obvious once someone actually did the math.
10% down. PMI. $50K still in their pocket. Nobody else ran those numbers.
FAQs
What's the minimum credit score?
620 is the technical minimum, but rates improve significantly as scores increase. Borrowers at 720+ typically see the most competitive conventional pricing. Below 680, it's worth comparing conventional vs. FHA to see which program gives you the better total cost — we run both.
What is the conforming loan limit?
The 2026 conforming loan limit is $806,500 in most counties. Above that you're in jumbo territory. Some higher-cost counties have higher limits — we confirm your specific county before assuming.
When does PMI go away?
PMI automatically cancels when your loan balance reaches 80% of the original home value based on your payment schedule. You can also request cancellation when your balance drops to 80% based on current market value — which may require an appraisal. Refinancing is another option once you have sufficient equity.
Conventional vs. FHA: which is better?
It depends on your credit score and down payment. Conventional requires stronger credit (620+ vs. 580+ for FHA) but has lower long-term costs for strong-credit borrowers — FHA mortgage insurance doesn't cancel the same way conventional PMI does. For borrowers with 680+ credit and 5%+ down, conventional is usually better long-term. We run both scenarios side by side.
Most lenders give you a rate. We give you a strategy.
Let's talk through what makes the most sense for your situation.
Roxy Miles
NMLS#2464939
Complex income specialist.
Former financial advisor.
865.424.7997
Quick Links
ABVB
Social
