Conventional Loans

Conventional Loans with 10th Mortgage Lending

We offer flexible options, competitive rates, and expert guidance from a certified 10th Mortgage Lending loan officer to help you buy your home with confidence.

Why Choose a Conventional Loan?

Conventional loans are the most common type of mortgage. They’re not backed by the government (like FHA or VA loans), which means they offer more flexibility and often cost less in the long run. Here’s why many first time homebuyers choose them:

• Down Payment Options: You don’t always need 20% down. Some programs allow as little as 3% for qualified buyers, which makes it easier to get into a home sooner. At 10th Mortgage Lending, we’ll review your budget and show you the lowest down payment options you qualify for. We’ll also explain how each choice affects your monthly payment so you can make the best decision for your finances.

• Lower Monthly Costs Over Time: If you put less than 20% down, you’ll pay private mortgage insurance (also known as PMI). But unlike FHA loans, PMI on conventional loans can be removed once you build 20% equity in your home-meaning your monthly payment goes down. When you work with us, your loan officer will create a clear timeline of when you’ll reach 20% equity and when PMI can be removed. That way, you’ll know exactly when your payment will decrease.

• More Property Choices: Conventional loans have fewer restrictions than government-backed loans. You can use them for single family homes, condos, townhomes, vacation homes, or even investment properties in many cases. At 10th Mortgage Lending, we’ll help confirm whether the property you’re interested in qualifies, and explain how each option changes your loan terms. Whether eyeing an investment property or looking for a new place to call your own, we’ll walk you through what’s possible.

• Competitive Interest Rates: If you have good credit and a steady income, you may qualify for some of the lowest rates available, which helps keep your monthly payment affordable. Our expert team shops rates and programs to make sure you get the most competitive option available. We’ll also explain how your credit score impacts your rate and share tips to improve it before applying if needed.

• Flexible Loan Sizes: Conventional loans work for both smaller starter homes and higher-priced homes. For more expensive properties, jumbo conventional loans are also available. Your certified loan officer from 10th Mortgage Lending will run the numbers to see if a standard conventional loan, or a jumbo loan, makes more sense for you. We’ll break down what each one means so you feel confident in your choice. 

Not sure if a conventional loan is your best option? A 10th Mortgage Lending loan officer will compare conventional, FHA, VA and other mortgage programs side by side, so you can clearly see which one will save you the most money and fit your financial goals.

How 10th Mortgage Lending Can Help

• Schedule an Appointment With One of Our Certified Loan Officers: We’ll discuss your goals and budget together and we’ll help shop for the best competitive rates and compare various mortgage programs side by side to see what will fit best for you.

• Get Pre Approved: We’ll review your income, credit and debts so we’ll know what type of house you can afford. We’ll then give you a pre-approval letter to show sellers you’re ready to buy.

• Find the Right Home: We’ll guide you on what price range works best for you and go over important matters such as property taxes, insurance, and PMI so you know your full monthly payment. We’ll work with you to find your perfect home for your needs and budget.

• Apply & Close: Once you’ve found your ideal home our certified loan officers will help with the application and paperwork process to make it as simple as possible. We’ll coordinate with the lender, real estate agent, and title company so you’ll know exactly what to expect on closing day. 

Our goal is to make the conventional loan application process simple and stress-free with clear answers every step of the way.