Conventional Home Loans
What’s a Conventional Loan?
A Conventional Loan is a “traditional” mortgage. It’s what most people think of when they start shopping for a home.
30-year loans are the most common, but some buyers also qualify for 10, 15, 20, or 25-year loans.
The maximum loan amount for a Conventional Loan is higher than most other loan programs. It is currently $766,550 (as of 01/01/2024) in Oklahoma.
In most cases, it takes 20-35 days from contract/application to closing for a Conventional Loan.
Benefits of a Conventional Loan:
You don’t need private mortgage insurance (PMI) with a 20% down payment
Can be used for a primary residence, investment property, OR second home
Some home buyers may be eligible for as little as a 3% down payment
If you think a Conventional Loan is the right choice for you, get in touch with one of our Home Loan Coaches to get started today.
Wondering what happens during a Home Loan Coaching Session?
Visit our Coaching page to see a real Coaching Session.
How It Works
Own your dream home in three simple steps:
Step 1
Schedule Home Loan Coaching Session
Step 2
Get pre-approved for your mortgage
Step 3
Move into your dream home!
Articles
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