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The standard, done rightConventional loans — the benchmark every other mortgage is measured against.
When your credit and income fit the standard box, a conventional loan is usually the cheapest money available. My job as a broker is making sure you get the standard box at a competitive price — shopped across lenders, not read off one bank's sheet.
No SSN. No credit pull. Alejandra Glass, NMLS #1008649.
How a conventional loan works
A conventional loan follows Fannie Mae and Freddie Mac guidelines — the rulebook most of American mortgage lending runs on. Because thousands of lenders sell the exact same product, it's the most price-competitive loan in existence, and the one where working with a broker pays most directly: same loan, multiple bids.
- Down payments from 3% for qualifying first-time buyers, 5% for most others.
- Mortgage insurance that cancels — automatically at 78% loan-to-value, on request at 80%.
- Primary homes, second homes and investment properties — one product family covers all three.
- Fixed and adjustable structures, with the fixed 30-year as the workhorse.
Conventional vs. FHA: the honest comparison
With strong credit, conventional usually wins over time because its mortgage insurance goes away and FHA's generally doesn't. With thinner credit or a smaller down payment, an FHA loan in San Antonio can genuinely be the better deal. The break-even depends on your score, your down payment and how long you'll hold the home — it's a five-minute calculation, and I'll show you both columns rather than steer you to either.
What underwriting actually looks at
Credit score, debt-to-income ratio, down payment and two years of income history — that's the core file. Self-employed with heavy write-offs? Conventional math may undercount your real income, and a bank statement loan for self-employed borrowers may read your finances more fairly. Buying a rental? DSCR investor loans skip your personal income entirely. Part of my job is telling you when the standard box isn't your best fit.
Start with the real numbers
Run your payment on the mortgage calculators to get oriented, then see your loan options — two minutes, no SSN, no credit pull. When it's time to price the loan for real, you'll see actual lender spreads, not one institution's sheet.
Conventional Loans — straight answers
How much down payment does a conventional loan require?
As little as 3% down for qualifying first-time buyers, and 5% for most everyone else. The 20%-down rule is a myth — what 20% actually buys you is no private mortgage insurance. Plenty of strong buyers put less down on purpose and keep the difference in reserves.
What credit score do I need?
Conventional pricing starts at 620, but the loan gets meaningfully cheaper as your score climbs — pricing adjusts in tiers, and the jump around 740+ is real money. If you're close to a tier boundary, it's sometimes worth a short pause to move your score before locking. That's the kind of math I run with clients up front.
How is PMI different from FHA mortgage insurance?
Private mortgage insurance on a conventional loan cancels — automatically at 78% loan-to-value, or on request at 80% once you've built the equity. FHA's mortgage insurance premium usually lasts for the life of the loan. That single difference is why buyers with solid credit often come out ahead on conventional even when FHA's rate looks lower.
What is the conforming loan limit?
It's the maximum loan size Fannie Mae and Freddie Mac will buy, and it resets every year. Above the current conforming limit you're in jumbo territory, which is its own product with its own underwriting. Ask me for this year's number for Bexar County — it takes thirty seconds to check and it moves annually.
Why get a conventional loan through a broker instead of my bank?
Because conventional is the most commoditized product in lending — which means pricing competition matters most here. Your bank quotes you one rate sheet. I shop the same loan across multiple wholesale lenders and show you the spread. Same Fannie/Freddie rulebook, different price tags.
Let’s see what you qualify for.
Two minutes, no SSN, no credit pull — and I review every one personally.