Loan programs · Conventional
The classic loan, done right.
Conventional financing is the most common mortgage in America — flexible terms, as little as 3% down, and PMI that can fall off over time. Here's how it works in Orange County.
What is a conventional loan?
A conventional loan is a mortgage that follows Fannie Mae or Freddie Mac guidelines and isn't backed by a government program like FHA or VA. It's the classic path home — often best with stronger credit, and you can drop mortgage insurance once you reach 20% equity. Choice Home Mortgage shops many lenders for your best conventional fit.
Conventional loans, explained in 30 seconds.
Wondering what a regular mortgage is? Here's the whole idea — quick, clear, and friendly.
The everyday loan most buyers use.
A conventional loan is a mortgage that isn’t insured by a government program like FHA or VA. It follows the guidelines set by Fannie Mae and Freddie Mac, and it’s the most common home loan in the country — the default choice for buyers with solid credit and steady income.
The appeal is flexibility. Conventional loans run from as little as 3% down up to 20% or more, in fixed or adjustable terms, on primary homes, second homes, and investment property. Put less than 20% down and you’ll carry PMI — but unlike FHA, that PMI can be removed once you build enough equity.
Because Choice Home Mortgage is a broker, not a bank, we shop hundreds of conventional lenders against each other and bring back the one that prices your file best. Buying a home? Conventional is often the starting point — and if you already own, a conventional refinance can be a smart way to drop PMI or improve your terms.
What makes conventional the default choice.
The classic loan
Conventional financing is the most common mortgage in America — flexible, well-understood, and a fit for most buyers with solid credit.
As little as 3% down
Qualified buyers can put down as little as 3% on a conventional loan — you don't always need the full 20%.
Drop PMI later
Put less than 20% down and you'll carry PMI — but unlike FHA, conventional PMI can fall off once you reach enough equity.
Flexible terms
Fixed or adjustable, 15-year through 30-year, primary home, second home, or investment — conventional bends to your plan.
Broker-shopped pricing
As a broker, we put many conventional lenders side by side and bring back the one that prices your file best.
One expert, start to finish
Owner Esther Buede handles your conventional loan personally — not a call-center queue.
Conventional loan questions, answered.
What is a conventional loan?
A conventional loan is a mortgage that isn't backed by a government program like FHA or VA. It's the most common type of home loan, follows guidelines set by Fannie Mae and Freddie Mac, and is a strong fit for buyers with solid credit and steady income.
How much do I need to put down?
Conventional loans can go as low as 3% down for qualified buyers, though more down generally means a stronger file and lower costs. Putting 20% down lets you skip mortgage insurance entirely. We'll show you the trade-offs for your situation.
What credit score do I need?
Conventional loans generally start around a 620 credit score, with better terms as your score climbs. If your credit isn't quite there, we may steer you to FHA instead — and we'll tell you honestly which path fits you best.
Will I have to pay PMI?
If you put less than 20% down, yes — conventional loans carry private mortgage insurance (PMI). The good news: unlike FHA, conventional PMI isn't permanent. Once you build enough equity, it can be removed, lowering your payment down the road.
What are the conventional loan limits in Orange County?
The 2026 conforming baseline is $832,750 for a one-unit home. Because Orange County is a high-cost area, conforming loans here stretch up to a high-balance limit of $1,249,125 — above that, you're into jumbo territory.
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See if conventional fits.
One call with the owner — no queue, no pressure. We'll tell you honestly whether a conventional loan is your best path, or whether FHA, VA, or jumbo fits you better.