Why Choose a conventional Loan?
Low Down Payment, High Flexibility
See if you can qualify with as little as 3% down — perfect for first-time and repeat buyers.
Versatile Property Use
See if you can finance primary, second homes, or investment properties with competitive terms.
Save More with Good Credit
Get better rates and reduced mortgage insurance when you have strong credit.
All products
We have the loans to achieve your goals.
Conventional Standard
• Minimum 620 credit score (FICO)
• Up to 97% loan-to-value for first
• Available for primary, secondary, or investment properties
City Community Lending
• Flexible guidelines (manual underwriting)
• Designed for underserved or harder-to-approve borrowers
• No AMI limits
RefiNow
• For low-income borrowers with existing Fannie Mae loans
• Max 100% loan-to-value/Combined-loan-to-value
• Reduced MI may be available
• Includes a $500 credit for appraisal costs
• Income must be ≤80% of Area Median Income (AMI)
• Limited cash-out allowed ($250 max)
• Borrower must receive a tangible benefit (e.g., lower monthly payment)
RefiPossible
• For low-income borrowers with Freddie Mac loans
• Max 100% loan-to-value/Combined-loan-to-value
• $500 appraisal credit provided
• Income must be ≤80% AMI
• Limited cash-out ($250 max)
• Reduced MI and streamlined documentation possible
• Must demonstrate payment benefit
Home Ready
• 3% down payment
• Income limits apply (≤80% AMI)
• Boarder and rental income allowed for qualifying
• First-time and repeat buyers eligible
• Reduced MI with cancellability at 20% equity
• Homeownership education required for first-time buyers
Home Possible
• 3% down payment
• Income limits apply (≤80% AMI)
• Boarder and rental income allowed for qualifying
• First-time and repeat buyers eligible
• Reduced MI with cancellability at 20% equity
• Homeownership education required for first-time buyers
2-1 Buydown
• Year 1: 2% below note rate
• Year 2: 1% below note rate
• Year 3 onward: full note rate
• Must be funded by seller or lender credit
• Available on FHA, VA, USDA, and conventional loans
Freddie Mac HomeOne
• 3% down payment for first-time homebuyers
• No income limits
• At least one borrower must be a first-time buyer
• Fixed-rate only
• Primary residence only