Is A Conventional Loan Right For You?

A conventional loan is a great option if you have a solid credit score and little debt. You can avoid PMI by paying 20% of the loan upfront, which will lower your mortgage payments.

If you’re unable to make a large payment upfront, conventional loans are available with a down payment as low as 3%. In most cases, borrowers save money in the long run with a conventional loan because there’s no upfront mortgage insurance fee and the monthly insurance payments are cheaper.