A conventional loan is a mortgage that is not insured by a government agency. It is the most common loan type for borrowers with solid credit, and down payments start as low as 3% for qualifying first-time buyers.
With 20% down, conventional borrowers avoid private mortgage insurance entirely — and when PMI is required, it automatically ends once sufficient equity is reached.
Ready to explore conventional loans? ajay patidar can walk you through eligibility, compare options, and get you pre-approved in Colorado, Arkansas, and Connecticut.
ajay patidar, Loan Officer at NEXA Lending. NMLS #123456. Call (111) 111-1111.