Conventional Home Loans

Conventional mortgages offer fixed rate loans with 15, 20, and 30 year term options with a variety of rate programs. Apply online or talk to our dedicated mortgage consultants to choose the right conventional home loan option for you, all with no lender fees or hidden costs.

Our Programs for Conventional Home Loans

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30-year fixed mortgage

A 30-year fixed mortgage is one of the most common types of home loans. Many home buyers choose this option for its flexibility and ease.

 

Choose a 30-year fixed if you want:

  • A predictable monthly payment
  • A fixed rate that protects against market changes
  • A lower payment compared to shorter-term loans
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20-year-fixed

A 20-year fixed mortgage is a perfect blend of payment and term for many customers.

 

Choose a 20-year fixed if you want:

  • Shorter term than a 30-year
  • Predictable monthly payments
  • A lower payment than a 15-year program
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15-year-fixed

A 15-year fixed mortgage may give you a lower rate and ability to pay off your loan faster than a 30-year fixed.

 

Choose a 15-year fixed if you want:

  • To build equity faster
  • To pay off your home sooner
  • A lower interest payment
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More Than a Mortgage

No Fees grayNo Lender Fees

No hidden costs, unnecessary charges, or jaw-dropping surprise moments

 

 

24hr clockFast Closings

Speed from start to finish for a modern experience

 

 

Benefit-35 Star Service

Red carpet, over the top, totally personal white glove service

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How We Roll

Buying Your Home Should be Fun and Exciting

That's why we've streamlined your experience from start to finish, making it simple and stress-free. With blazing fast technology and expert guidance along the way, it's home buying for the digital age.

1. Get Pre-Approved

Your home journey starts with completing a fast and digital mortgage application. This will tell you how much house you can afford and let’s realtors know you’re a serious house hunter. 

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2. Search Smart

Use our free nationwide MLS database to search for your home, connect with realtors, and access your pre-approval letter all from your mobile device. 

 Download Now

3. Lock Your Loan

Lock your loan through our digital portal or with one of our expert mortgage consultants. It's fast and easy and let's us begin processing your loan for closing. 

 

4. Close Virtually

A modern mortgage doesn't close at the attorney's office. Close when and how you want with our virtual closing, saving you valuable time and money. 

Get Started

1. Get Pre-Approved

Your home journey starts with completing a fast and digital mortgage application. This will tell you how much house you can afford and let’s realtors know you’re a serious house hunter. 

 Get Started

2. Search Smart

Use our free nationwide MLS database to search for your home, connect with realtors, and access your pre-approval letter all from your mobile device. 

 Download Now

3. Lock Your Loan

Lock your loan through our digital portal or with one of our expert mortgage consultants. It's fast and easy and let's us begin processing your loan for closing. 

 

4. Close Virtually

A modern mortgage doesn't close at the attorney's office. Close when and how you want with our virtual closing, saving you valuable time and money. 

Get Started

Looking for a loan but unsure of your options? Conventional home loans are a great place to start. Conventional loans are private loans available in 15, 20 or 30-year terms at a fixed interest rate, which means your monthly payment won’t change with fluctuations in the market. Conventional loans are typically a good choice for buyers who may not have a large down payment ready, like first-time home buyers.

Each conventional loan term comes with its own advantages. A 30-year fixed mortgage loan will give you lower monthly payments than a 15- or 20-year term mortgage loan. If you’re looking to get the lowest rate possible, a 15-year fixed conventional mortgage loan will offer this and will help build equity faster to potentially pay off your home sooner. A 20-year fixed loan is the sweet spot between the two, giving you a shorter term than a 30-year loan and a smaller payment than a 15-year loan. Learn more about conventional home loans below.

 

What is a Conventional Loan?

A conventional loan is a mortgage loan not backed by a government agency or program and follows guidelines set out by Fannie Mae and Freddie Mac. Conventional loans can be broken down into “conforming” and “non-conforming” loans.


What Types of Conventional Loans are Available?

There are two types of conventional home loans: conforming and non-conforming. Conforming loans meet the loan limit guidelines set by Fannie Mae or Freddie Mac. Non-conforming loans (also referred to as jumbo loans) are those with loan amounts too high for Fannie Mae or Freddie Mac to sponsor and instead are funded by lenders.


How Does a Conventional Loan Work?

In general, conventional loans are harder to qualify for than government-backed loans. Since conventional home loans are not backed by the government, the lender is at greater risk. This means, if the borrower is unable to make mortgage payments, the lender will try to recoup the remaining mortgage balance through short sale or foreclosure.


What Conventional Loan Calculators are Available?

Choose a mortgage calculator with taxes, HOA fee, and insurance inputs to get a realistic idea of what your monthly conventional loan mortgage payment could look like.


How To Qualify for a Conventional Loan?

Since conventional loans are not government-backed and therefore are a bigger risk for lenders, the qualification process can be a bit more strict. Borrowers looking to obtain a conventional home loan should have good credit and some money (3% or more) for a down payment.


How to Find Conventional Loan Rates Today?

Find and compare mortgage rates for conventional loans against other popular loan options with Wyndham Capital’s rate comparison tool. This rate comparison tool lets you see what today’s conventional loan rates are from leading lenders.


What are Conventional Loan Requirements?

To qualify for a conventional home loan borrowers typically need a credit score no lower than 620 and at least 3% available for a down payment. Borrowers with lower credit scores may need a larger down payment.


How Much Down for a Conventional Loan?

Conventional loans require a down payment as little as 3%. Borrowers that can afford a down payment of 20% or more can avoid paying private mortgage insurance (PMI), an additional cost added to your monthly mortgage payment.


Is a Conventional Loan a Good Option?

Conventional loans are a great option for borrowers with good credit and little debt who are interested in low-interest rates and a flexible down payment option. Borrowers with a large down payment available can build equity more quickly with a conventional mortgage since there is a higher payment upfront.

 

Wyndham Capital’s digitally-driven processes make it easy to compare rates and get a personalized loan to perfectly fit your needs. Talk with one of our dedicated mortgage consultants today to see if a conventional loan is right for you, and discover the difference a modern mortgage company can make.

 

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