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Conventional Home Loans

Explore flexible financing with conventional home loans.

Conventional mortgages offer competitive rates, diverse term options, and fewer restrictions—perfect for buyers with good credit looking for straightforward terms and lower costs.

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Conventional Home Loan Benefits

Secure a competitive, fixed-rate conventional loan.

Conventional loans offer popular 15- and 30-year terms, ideal for budget-friendly monthly payments and long-term stability. Find the perfect fit for your financial goals.

Competitive interest rates
Flexible loan terms
Lower Private Mortgage Insurance (PMI)
Fewer restrictions & property requirements
Wide loan limit options

Today's Conventional Loan Rates

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I found Blake to be very kind and informative. He answered all my questions in a timely manner as well as the others I worked with through Lower Mortgage

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July 6, 2026

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Fred goes above and beyond!!!! Thank you Fred for making my families dreams come true!!!!

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Michale was a true pleasure to work with always answered his phone always had the answers to my questions and if he didn't, he was always able to find out the answer and get right back to me. Truly a pleasure to work with very transparent.

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Vicki was helpful, knowledgeable and made the whole experience easy. Highly recommend!

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August 30, 2026

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Jill was very timely and professional in her dealings with us on this deal.

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August 10, 2026

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Seamless. Little to no effort on our part required.

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August 23, 2026

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30-year fixed rate mortgage

Enjoy long-term stability and manageable monthly payments with a 30-year fixed rate mortgage from Lower. Perfect for those seeking predictability and a comfortable budget fit.

Get a personalized 30-year rate quote

15-year fixed rate mortgage

Pay off your home faster and save on interest with a 15-year fixed rate mortgage from Lower. Ideal for those who want to build equity quickly and secure long-term savings.

Get a personalized 15-year rate quote
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Shop your heart out. No credit check until you’re ready to buy

Your credit is important, so we don't do a hard pull until you're absolutely ready. (And we'll always ask for permission when we do.)

Get pre-qualified for a conventional loan
Frequently Asked Questions

You’ve got conventional loan questions. We’ve got answers.

Conventional loans are the most common type of home loan, and feature a wide range of options when it comes to down payment, loan structure, and the type of property you’re buying.

Qualifying first-time homebuyers may be able to put down as little as 3%, while other borrowers may qualify with a down payment as low as 5%. Some buyers also opt for a larger down payment to reduce their monthly payment and avoid private mortgage insurance, or PMI.

Conventional loans differ from government-backed loan types like FHA loans in that they can be used for a wide range of property types, including primary residences, second homes, and investment properties, depending on eligibility.

Credit score requirements vary depending on your unique financial situation, as do debt-to-income requirements. 

Do I need to pay private mortgage insurance (PMI) on
a conventional loan?

If you make a down payment of less than 20%, PMI is typically required. However, once you reach 20% equity, you can request to have PMI removed, which lowers your monthly payments.

What credit score do I need to qualify for a conventional loan?

Conventional loans generally require a credit score of at least 620. However, higher scores may help you secure better rates and terms, especially with lower down payments.

What is a conventional loan, and how does it differ from
government-backed loans?

A conventional loan is a mortgage not insured by the government, unlike FHA, VA, or USDA loans. It typically has fewer restrictions and may offer better rates for qualified buyers with good credit.

Learn More

Conventional Mortgage Resources

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