Conventional Home Loans
Conventional Home Loans

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CONVENTIONAL HOME LOANS

Conventional Home Loans Lower Rates with More Flexibility

A conventional mortgage refers to any loan that is not insured or guaranteed by the federal government, as opposed to government-insured loans including Federal Housing Administration (FHA), U.S. Department of Veteran Affairs (VA) and U.S. Department of Agriculture (USDA). Conventional mortgages (whether conforming or not) typically have a slightly higher down payment than government loans; however, this loan option normally provides more flexibility with fewer restrictions.

Conventional Loan Highlights

If you have good credit and stable income, a conventional loan might be the right option for you since it offers the following:

Lower Interest Rates for Borrowers with Good Credit
Flexible Mortgage Insurance Options
Fewer Penalties and Fees
Flexible Loan Terms

Conventional Loan Programs

Adjustable-Rate Mortgage

An adjustable-rate mortgage (ARM) features interest rates that can change periodically after the initial fixed-rate period. After this introductory period, monthly payments may increase or decrease based on the market, which can affect monthly payments. There are a number of scenarios where an ARM could be right for you, learn more here.

Fixed-Rate Mortgage

Fixed-rate mortgages protect you against rising rates since the interest rate remains the same for the entire term of the loan. Plus, you have the option of selecting a 10, 15, 20, 25 or 30-year term. If you plan on staying in your home for a longer time frame, a fixed-rate mortgage could be the right solution for you—learn more here.

Jumbo Mortgage

A jumbo loan, or non-conforming mortgage, allows you to purchase more expensive homes with a loan amount above the conforming limit set by the Federal Housing Finance Agency. In most areas of the country, the conventional conforming loan limit is $548,250; however, the limit is $822,375 in higher cost areas. A jumbo loan might be the right option for you, to learn more, click this link!

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* This article does not constitute tax or financial advice. Please consult a tax and/or financial advisor regarding your specific situation.
**Subject to underwriting review and approval.

Copyright©2026 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Opportunity. Fairway Independent Mortgage Corporation NMLS ID #2289 www.nmlsconsumeraccess.org.