Conventional Loans


Conventional or Conforming loans are available at Loan Direct with more flexibility than other lenders.  We use a common sense approach to underwriting. A conventional loan is not associated with the FHA, USDA, or VA. It generally requires at least 5% down (though it can be as low as 3% for some buyers), but private mortgage insurance (PMI) is required for down payments of less than 20%. Paying PMI will add to the cost of your monthly payments.

  • Conforming Loan Amount:   $150,000 – $726,200
  • High-Cost areas:    $726,201 – $1,089,300
  • Down payment as low as 5%
  • Flexible credit requirement
  • Credit as low as 620
  • Flexible income documentation option
  • Purpose: Primary Residence Only


  • No PMI is required if the down payment is 20% or more
  • Larger down payments may help build home equity earlier


  • PMI is required for down payments under 20%
  • More difficult requirements for income and credit score


  • Available for most types of property, including second home and investment properties