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CONVENTIONAL

Available on eligible purchase programs. Borrower, occupancy, property and program requirements apply; mortgage insurance may be required.

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Loan limits sourced from Fannie Mae 2026 data. Limits shown are for conventional conforming loans only. Actual loan approval subject to credit, income, and lender underwriting. WestFi NMLS #2890320 · CA DRE #02443798.

Conventional Loan

A Conventional loan is one of the most flexible and widely used mortgage programs available for both homebuyers and homeowners looking to refinance. Unlike government-backed programs, Conventional loans are funded through private lenders and generally follow guidelines established by Fannie Mae^® and Freddie Mac.

Conventional financing is ideal for borrowers with stable income, solid credit, and strong overall financial profiles. These loans can be used for primary residences, second homes, and investment properties, making them one of the most versatile mortgage solutions available.

Low-down-payment options may be available for qualified borrowers. Conventional loans with less than 20% down generally carry borrower-paid private mortgage insurance (PMI), which differs from FHA mortgage insurance and may be cancellable once equity and other requirements are met. Conventional loans are also commonly used for refinancing into lower rates, removing mortgage insurance, consolidating debt, or accessing home equity through cash-out refinancing.

Conventional loans are commonly used for:

First-time home purchases
Rate-and-term refinancing
Cash-out refinancing
Second homes and vacation properties
Investment property financing
Removing mortgage insurance

Conventional underwriting considerations:

Debt-to-income requirements depend on the program, borrower and underwriting review
Credit, reserves, income, documentation and property requirements are considered together

Conventional financing is often preferred by borrowers seeking long-term flexibility, competitive pricing, and lower overall borrowing costs.

Mortgage Product Disclaimer

The information provided above is for general educational and informational purposes only and should not be interpreted as a commitment to lend, preapproval, underwriting approval, or financial advice. Loan programs, eligibility requirements, interest rates, debt-to-income ratios, mortgage insurance premiums, and financing terms may vary based on borrower qualifications, credit profile, occupancy, property type, loan amount, and applicable underwriting guidelines.

All mortgage loans are subject to credit approval, property approval, verification of income and assets, and investor or lender underwriting requirements. Certain programs, including FHA, VA, Jumbo, and Conventional financing, may have additional restrictions or qualification standards.

Interest rates, APRs, loan terms, and program availability are subject to change without notice and may not be available at the time of loan commitment or lock-in. Mortgage insurance premiums and FHA program guidelines are established by HUD/FHA and may change periodically.

Westmount Financial Group Inc DBA WestFi is an Equal Housing Opportunity mortgage company. We fully comply with the Equal Credit Opportunity Act (ECOA), Fair Housing Act, and all applicable federal and state lending regulations.

NMLS ID: 2890320. For licensing information and consumer access, please visit NMLS Consumer Access. Please review our Privacy Policy and Terms of Service. Equal Housing Opportunity.