Conventional loans tend to work best for buyers who have:
• A credit score of 620 or higher (better rates typically start around 680+)
• Stable, verifiable income and employment history
• A manageable debt-to-income ratio
• Funds available for a down payment, even if it's a smaller amount
Not sure where you stand? We'll review your situation and let you know honestly whether conventional is your best fit — or if another program might serve you better.
Conventional loans tend to work best for buyers who have:
A credit score of 620 or higher (better rates typically start around 680+)
Stable, verifiable income and employment history
A manageable debt-to-income ratio
Funds available for a down payment, even if it's a smaller amount
Not sure where you stand? We'll review your situation and let you know honestly whether conventional is your best fit — or if another program might serve you better.
Most lenders require a minimum credit score of 620, but you'll typically see the most competitive interest rates starting at 680 and above. The stronger your credit profile, the better the rate and terms you can expect.
Conventional loans allow down payments as low as 3% for first-time buyers and 5% for repeat buyers. Putting down 20% eliminates the need for private mortgage insurance (PMI), which can lower your monthly payment significantly.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender — not you — in case of default. The good news is that once you reach 20% equity in your home, you can request to have PMI removed, unlike FHA loans which carry mortgage insurance for the life of the loan in most cases.
The conforming loan limit for most counties in North and South Carolina is $806,500 in 2025. Loans above that limit require a Jumbo loan. We'll let you know upfront which applies to your purchase.
A fixed-rate mortgage locks your interest rate for the life of the loan — your principal and interest payment never changes. An adjustable-rate mortgage (ARM) starts with a fixed rate for an initial period (typically 5, 7, or 10 years) and then adjusts periodically based on market conditions. Most buyers in the Carolinas opt for a 30-year fixed for predictability and stability.
Yes — unlike FHA and VA loans, conventional loans can be used for primary residences, second homes, and investment properties, making them a flexible option for buyers with multiple real estate goals.
It depends on your credit score, down payment amount, and long-term goals. Conventional loans generally win out if you have stronger credit and can put at least 5% down. FHA loans may make more sense if your credit is lower or you need more flexible qualification guidelines. We'll compare both options side by side so you can make a confident, informed decision.
Phone: 864‑205-5210
Address: Greenville, SC
Office Hours
Monday–Friday: 9:00 AM – 5:00 PM
