Conventional Home Loans in Columbus, OH
Fast & Affordable
Ultimate Mortgage Brokers offers conventional loans for buyers and refinancers looking for a straightforward mortgage with competitive rates.
Benefits of Conventional Loans
Conventional mortgages are perfect for those who want flexibility, low fees, and predictable payments, our conventional loans help you reach your homeownership goals without unnecessary complexity.
Competitive interest rates and predictable payments
Get the best rates with consistent monthly payments that fit your budget.
Low down payment options available
Start your homeownership journey with as little as 3% down payment.
Flexible terms from 10 to 30 years
Choose the loan term that works best for your financial situation.
Ideal for first-time buyers, move-up buyers, and refinancing homeowners
Perfect solution for all types of homebuyers and homeowners looking to refinance.
Everything you need to know about conventional loans
What is a conventional loan?
A conventional loan is a mortgage that's not backed by a government agency like the FHA, VA, or USDA. These loans typically offer competitive interest rates and flexible terms, making them ideal for borrowers with good credit and stable income.
Conventional loan requirements
Most conventional loans require a minimum credit score of 620, a debt-to-income ratio below 43%, and a down payment of at least 3-5%. Private mortgage insurance (PMI) is typically required for down payments less than 20%.
Conventional vs. government loans
Unlike FHA or VA loans, conventional loans don't have government backing, which means stricter qualification requirements but often better rates and terms for qualified borrowers. They're also not subject to loan limits in the same way.
Who should consider a conventional loan?
How It Works
Apply Online
Fill out our quick online form
Speak with a mortgage expert
Discuss your financial goals with our mortgage expert and choose the best program for you
Complete everything online
Use document upload and e-sign capabilities to do everything online
Get approved
We have streamlined the process to get you approved fast!
Close your loan
Simply e-sign your documents and close on your loan
Who Should Consider a Conventional Loan
Buyers with good to excellent credit scores
Conventional loans offer the best rates for borrowers with credit scores of 620 or higher.
Those with stable income looking for standard documentation loans
Perfect for borrowers who can provide traditional income documentation and want straightforward loan terms.
Homeowners aiming to refinance for lower rates or better terms
Ideal for current homeowners looking to take advantage of lower interest rates or improve their loan terms.
💡 Frequently Asked Questions
Conventional loans typically require a minimum down payment of 3% for first-time buyers, though most borrowers put 5–20% down depending on their financial situation and loan type.
Yes! Conventional loans are commonly used for refinancing to lower your interest rate, reduce your monthly payment, or access home equity.
No. While better credit scores improve your rate, conventional loans are available for borrowers with good credit (typically 620+) and a stable income.
With our streamlined online process, most approvals happen in days, not weeks, so you can close faster and reduce stress.
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