Conventional Home Loan

What is a Conventional Home Loan?

A conventional home loan isn’t backed by the federal government and it conforms to the requirements set forth by Fannie Mae and Freddie Mac.


Colorado borrowers are typically required to provide a down payment of at least 3% (first-time home buyers), but if borrowers decide to put at least 20% down, they won't have to pay for mortgage insurance. 


Conventional loans are geared towards borrowers who can potentially make larger down payments, have a fairly secure financial standing, and are at a lower risk of defaulting on the loan.

Conventional Home Loan - Security First

Requirements for a Conventional Loan

  • Minimum Down Payment of 3%

  • Credit scores as low as 620

  • Mortgage Insurance is required if down payment is less than 20%

Conventional Loan Highlights

  • Relatively faster home loan processing

  • Generally better interest rates and loan terms compared to VA & FHA loans

  • Opportunity to reduce or avoid a Mortgage Insurance Premium

  • Loan limits vary by county - Denver County loan limit - $575,000*, El Paso County Loan Limit - $510,400*, Arapahoe County loan limit - $575,000* (Contact us for the Conventional Loan Limits in your County)

    * As of January 2020

At Security First Financial, we’re dedicated to ensuring that each customer has a great experience. Our local loan originators have decades of combined experience in the mortgage industry and can help you find the right mortgage based on your needs. We are happy to answer any questions you may have along the way to make sure your mortgage loan process is a good one from start to finish. Contact Us Today To Get Started

Our team is here to answer any questions you have.

We can help you understand more about:

  • Loan Programs

  • Rates

  • The loan process

  • What you'll need for your application

  • What to expect after you complete your application

Apply for a Conventional Loan Online
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Security First Financial is a division of Primary Residential Mortgage, Inc. PRMI NMLS 3094. Branch NMLS ID# 385589. PRMI is an Equal Housing Lender. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. Programs, rates, terms, and conditions are subject to change and are subject to borrower(s) qualification. This is not a commitment to lend. Colorado – Regulated by the Division of Real Estate, UCCC #987701-016. Arizona – Arizona Department of Financial Institutions 0902614. Massachusetts – Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094. Florida - Florida Office of Financial Regulation MLD646.

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