Conventional Loan Types
We offer a range of conventional loan programs designed to fit your goals — from purchasing your first home to funding a custom build.
Purchase Loans
Ready to buy a home you love? Our conventional purchase options can make it happen — even with little to no money down.
Fannie Mac HomeReady®
Freddie Mac Home Possible®
Freddie Mac HomeOne
Conventional Down
Payment Assistance
Homeownership is closer than you think. We offer down payment and closing cost support through national and local programs, and we’ll guide you to the ones that best fit your needs.
Conventional Loan Requirements
To qualify for a conventional loan, we’ll assess your income, assets, and credit history. Here’s what to expect:
Proof of Income
Typically includes 30 days of pay stubs, 2 years of W-2s and tax returns, and 60 days of bank statements.
Assets
We’ll verify you have funds for your down payment and closing costs. Gift funds are allowed — with a gift letter.
Employment Verification
We confirm your current job status and income. Recent job changes may require prior employer contact.
Other Documentation
You’ll need a valid ID and your Social Security number for verification.
Frequently Asked Questions
How is a conventional loan different from other mortgages
Conventional loans aren’t backed by the federal government. Instead, they follow the guidelines set by Fannie Mae and Freddie Mac and usually fall within conforming loan limits.
Can a conventional loan be transferred to someone else
Typically, no. Most conventional mortgages have a due-on-sale clause, which means the remaining balance is due when the property is sold. That said, certain situations — like inheritance or divorce — might allow an assumption.
What sets FHA and conventional loans apart
FHA loans are government-insured and usually easier to qualify for with lower credit or smaller down payments.
Conventional loans can offer more flexibility — like buying a second home or investment property — and mortgage insurance can be removed once you build 20% equity. FHA mortgage insurance often lasts for the full loan term.
Let’s Make It Happen
At Choice Mortgage Group, we’re not just here to get you a loan — we’re here to make sure you feel confident and cared for. With empathy in every mortgage and a team that’s walked in your shoes, we’re committed to delivering outstanding service that exceeds expectations.