Conventional Loan

A conventional loan is the most widely used loan type for creditworthy buyers—the standard choice for those with steady income and strong credit who want competitive terms and predictable payments.

At One Way Lending, every conventional loan is guided by our Core Values:

• Integrity — honest answers, no surprises.
• Excellence — timelines you can count on, every detail handled.
• Impact — building equity and wealth with every payment.

FAQs About Conventional Loans

Who is a conventional loan best for?
Buyers with solid credit and consistent income who want a dependable, long-term mortgage solution. If stability and equity growth are your goals, this is often the best fit.

What are the biggest advantages?

• Competitive interest rates
• Flexible repayment terms (15–30 years)
• As little as 3–5% down for qualified buyers
• Ability to remove PMI once you reach 20% equity (a huge long-term savings)

What’s a common misconception?
That conventional loans are “hard to qualify for.” In truth, if you have fair-to-strong credit and manageable debt, you may be closer than you think. Don’t assume. Let’s run your numbers and explore together.

What’s required to qualify?
Typically a 620+ credit score, steady income, and 3–5% down. The exact requirements vary, but our role is to help you see where you stand today and what steps might make you eligible sooner.

How fast can it close?
Most conventional loans close in 20–30 days. What sets us apart is excellence in process. We don’t just hope for those timelines; we consistently hit them through proactive communication and milestone updates.

How does this compare to other loan types?
Conventional loans are best for borrowers with stronger credit and savings. FHA or VA may be better if you need lower credit requirements or no down payment. If another product is a better fit, we’ll tell you. That is part of our commitment to integrity.

What’s the long-term benefit?
Every payment builds equity while you enjoy competitive rates and flexible terms that adapt as your finances grow. Over time, you’re not just paying for a place to live—you’re creating a financial foundation for your future.

When isn’t a conventional loan the best choice?
If you’re working on rebuilding credit, need down payment assistance, or qualify for VA benefits, other loan types may serve you better. The good news? We can show you all the options side-by-side.

How do I know if I qualify?
That’s simple—book a Dreams & Goals Call. In one conversation, we’ll show you what’s possible and map your next step.