Conventional Loan Options^*

Conventional mortgage options are available for a range of down payment amounts and eligible property types.

Low Down Payment Options (97% Loan to Value)

• Down payment options as low as 3% may be available for eligible first-time homebuyers
• Private mortgage insurance (PMI) is required
• Seller contributions of up to 3% may be applied toward eligible closing costs
• Gift funds from eligible sources may be used toward your down payment and closing costs

Standard Down Payment Options (80.01-94.99% Loan to Value)

• Gift funds from eligible sources may be used toward your down payment and closing costs
• Private mortgage insurance (PMI) is required
• Seller contributions may be available toward eligible closing costs:
  • Up to 3% for loans with a loan-to-value ratio greater than 90% and up to 95%
  • Up to 6% for loans with a loan-to-value ratio greater than 80% and up to 90%

Options Available at 80% Loan-to-Value or Less

• Private mortgage insurance (PMI) is generally not required
• Seller contributions of up to 6% may be applied toward eligible closing costs
• Investment property financing may be available up to 80% loan-to-value for one-unit properties and up to 75% loan-to-value for 2-4 unit properties
• Seller contributions of up to 2% may be available for eligible investment property transactions

Conventional loans are subject to Federal Housing Finance Agency (FHFA) loan limits. If you're purchasing a higher-priced property our Mortgage Officer Team can discuss Jumbo Loan options.