# Conventional Loans

Source: https://www.gatewayfirst.com/mortgage/purchase/mortgage-loans/conventional

Gateway Mortgage's conventional mortgage loans are a popular choice among experienced and even first-time homebuyers. These loans offer excellent flexibility and many options that can be customized to meet a wide range of mortgage scenarios.

## Conventional Loans
Conventional mortgage loans are a popular choice among experienced and even first-time homebuyers. These loans offer excellent flexibility and many options that can be customized to meet a wide range of mortgage scenarios.

## Is It Right for You?

Sensible solution for many borrowers but generally best for those who have good credit, a stable job and consistent income history.

## Is It Right for Your Situation?

Primary residence, second homes and investment properties, single family and 2-4 unit properties, condos and townhomes, Planned Unit Developments (PUDs), and manufactured double-wide homes; loan amounts up to $832,750 or based on [County High Balance Limits](http://www.fanniemae.com/singlefamily/loan-limits).

#### Features and Benefits

1. Streamlined application and faster processing times; generally requires less documentation
2. Avoids private mortgage insurance (PMI) with 20% down payment
3. Fixed rate options: Terms range from 10-30 years
4. Adjustable Rate Mortgage (ARM) Programs: 3/6, 5/6, 7/6, 10/6
5. Down payments as low as 3%

Although a conventional home loan offers tremendous advantages, they typically carry higher credit and financial requirements than government-backed loans. If you are looking for a traditional, government-insured mortgage such as an FHA, VA or USDA loan, check out our [other loan types](/mortgage/purchase).

Ready to get expert advice and determine what works best for your personal situation? Contact one of our local, caring mortgage professionals at a [**Mortgage Center Near You**](/locations-atms).
### Helpful Resources
- [Homebuyer's Guide](https://downloads.ctfassets.net/67qif86ju9cg/4sw8jmk5NwMI2CiRo3yfn7/51bcb7decfcf6611580a8dbae1e86792/Homebuyer_Booklet_Final_03.25.21.pdf)
- [Our Blog](https://www.gatewayfirst.com/blog)
- [Loan Estimate 101](https://www.consumerfinance.gov/owning-a-home/loan-estimate/)
- [Closing Disclosure 101](https://www.consumerfinance.gov/owning-a-home/closing-disclosure/)
- [Calculators](https://www.gatewayfirst.com/calculators)
- [Documents Checklist](https://assets.ctfassets.net/67qif86ju9cg/6NryX4QvRaqFUPHwFmyt5D/d39643f18388137bd07152d286efef09/Loan_Docs_Needed_Checklist_FINAL_2.3.21.pdf)
- [Closing Checklist](https://assets.ctfassets.net/67qif86ju9cg/4u4XdL2TWAWhnmSzCtDdhr/c464a349d188abc6d5a86b6101745985/GatewayLoan.com-Assets_Closing-Checklist_2.3.21.pdf)
- [Benefits of Pre-qualification](https://www.gatewayfirst.com/blog/benefits-of-pre-qualification)
- [Find a Loan](https://www.gatewayfirst.com/personal/loans)
Published: 2025-12-04T19:10:48.717Z