Who can get a Conventional Loan?
Almost anybody can get a Conventional Loan. There are no income limits and it will provide financing on 1-4 unit residential properties to be used as primary residences, second homes, and investment properties. To qualify for a Conventional loan, you’ll need a minimum 620 credit score and maximum debt to income ratio of 45% (exceptions made up to 50% with compensating factors). The interest rate and closing cost structure of Conventional loans are best suited for clients with high credit scores and/or large down payment/equity.