Conventional
Questions about conventional financing.
Questions
What is a conventional loan?
A conventional loan is mortgage financing that is not insured or guaranteed by a government program such as FHA, VA or USDA. It follows the guidelines of the investors who purchase these loans.
Terms, rates and programs are subject to change, and not all customers will qualify.
Does a conventional loan require mortgage insurance?
Mortgage insurance on a conventional loan depends on the amount you put down relative to the value of the home and on current investor guidelines.
Your loan originator can show you how it would apply to the scenario you are considering.
Can a conventional loan be used for a second home or rental property?
Conventional financing is often used for primary residences, and there are also guidelines that address second homes and investment properties. Requirements differ by occupancy type.
If you are buying a rental, ask about investor and DSCR options as well so you can compare structures.
Related programs
Conventional Loans
Learn how conventional mortgage financing works, who it may suit and how to talk it through with a licensed Boss Mortgage loan originator.
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Investor Loans
Financing for rental and investment property, from a first rental to a growing portfolio, with Boss Mortgage.
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DSCR Loans
Debt Service Coverage Ratio financing for investment property purchases and refinances, explained by Boss Mortgage.
Learn more →Still have a question?
Every situation is different. We’ll help you understand your options and what may fit your goals.
This page is general information about mortgage financing and is not a commitment to lend, an offer of credit, or financial or legal advice. Program availability, guidelines and requirements are set by lenders and investors, can change, and depend on your individual circumstances and the property. Talk with a licensed Boss Mortgage loan originator about what applies to you.
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