Conventional mortgages built for stability and your financial goals
Whether you're a first-time homebuyer or refinancing, conventional loans offer flexibility with terms and structures tailored to your situation. We work with you to find the right fit for your down payment, credit profile, and long-term plans.
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What sets us apart in conventional lending
- Transparent process from start to finish
- Personal guidance at every step
- Multiple loan structures to choose from
Why conventional mortgages remain a strong choice
A conventional mortgage is a loan that isn't backed by government programs like FHA or VA. This means the terms and requirements are set by lenders themselves, which actually gives us more room to work with your individual circumstances. You'll typically need a down payment, though conventional loans can work with various amounts depending on your profile. Because these loans aren't government-insured, you may see different requirements around credit history and debt-to-income ratios, but this also means fewer restrictions on how you'll use the home. We've helped countless homebuyers find conventional solutions that matched their financial situation better than other loan types. The key is understanding what you qualify for and what makes sense for your specific goals, whether that's a 15-year payoff or a 30-year approach.
Common Questions About Conventional Loans
Clear answers to help you understand your options and move forward with confidence.
What down payment do I need for a conventional loan?
Conventional loans can work with down payments ranging from as low as a smaller percentage up to the full purchase price. The amount you put down affects your loan terms, costs, and whether you'll need private mortgage insurance. We'll review your situation and show you how different down payment amounts change your monthly payment and overall costs.
How does my credit score affect a conventional loan application?
Your credit history and score help us understand your borrowing patterns and how you've managed debt in the past. Most conventional loans work with a range of credit profiles. Rather than focusing on a single number, we look at the full picture of your financial responsibility. We can discuss what your specific credit situation means for your options.
What's the difference between fixed and adjustable rate mortgages?
A fixed-rate mortgage keeps the same interest rate and monthly payment throughout the entire loan term, giving you predictability and protection from rate increases. An adjustable-rate mortgage typically starts with a lower initial rate that changes after a set period, which can lower your early payments but introduces future uncertainty. The right choice depends on how long you plan to stay in the home and your comfort with payment changes.
Conventional mortgage terms we offer
These represent the loan structures available through Halstead Row Mortgage. Actual terms, rates, and qualification depend on your individual financial profile, the property, and current market conditions. We encourage you to speak with a loan officer to discuss what applies to your situation.
Rates as of
| Loan type | Rate | APR |
|---|---|---|
| 30-Year Fixed Rate Stable payment for the full loan term | 6.500% | 6.625% |
| 15-Year Fixed Rate Build equity faster with higher payments | 5.750% | 5.900% |
| Adjustable Rate Mortgage Lower initial rate with periodic adjustments | 6.250% | 7.125% |
Annual Percentage Rate calculations assume a loan amount of 80% loan-to-value with 20% down, a 740+ credit score, and standard underwriting. Your actual APR depends on your financial profile, loan amount, property type, and current market rates.
These programs are offered subject to individual qualification. Rates, terms, and availability change based on market conditions and your specific circumstances. Down payment requirements, credit score expectations, and debt-to-income limits vary by program. Private mortgage insurance requirements apply to loans with less than 20% down. Prepayment penalties may apply to some loans. Contact us for a personalized quote and complete program details.