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Conventional loans are the most common type of mortgage in the U.S. — and for good reason. Backed by private lenders and typically conforming to Fannie Mae and Freddie Mac guidelines, conventional loans offer flexible terms, competitive rates, and a wide range of options for both first-time buyers and seasoned homeowners.
At Champion Loans, we help you determine if a conventional mortgage is the right fit for your financial goals, credit profile, and property type.
Low Down Payment Options
You may qualify with as little as 3% down (for first-time buyers) or 5% for repeat buyers.
Competitive Interest Rates
Get access to some of the lowest fixed and adjustable rates available — especially with strong credit.
No Upfront Mortgage Insurance
Unlike FHA loans, conventional mortgages don’t require an upfront mortgage insurance premium.
Cancel PMI at 20% Equity
Private mortgage insurance (PMI) is required if your down payment is under 20%, but it can be removed once you reach 20% equity — saving you money in the long term.
Flexible Loan Terms
Choose a term that fits your goals: 15, 20, or 30 years — fixed or adjustable-rate (ARM).
Multiple Property Types
Finance a primary residence, second home, or investment property under conventional guidelines.
While each lender may have slightly different requirements, conventional loans typically ask for:
A credit score of 620 or higher
A debt-to-income ratio below 45%
Stable income and employment history
Proof of assets and down payment funds
An acceptable appraisal and property condition
At Champion Loans, we review your full financial picture to match you with the best loan structure — even if your credit or debt profile needs some fine-tuning.
First-time buyers with good credit
Move-up buyers looking for low rates and fewer restrictions
Borrowers with 20% down who want to avoid mortgage insurance
Investors or second-home buyers seeking flexible financing
Self-employed buyers with full documentation
