Conventional Loans

Great rates and flexible terms for qualified borrowers

At ASJ Mortgage Solutions, LLC, we help Arizona homebuyers find the right mortgage to fit their needs—and for many, a conventional loan is the ideal choice. Unlike government-backed loans, conventional mortgages are offered through private lenders and provide flexibility, competitive rates, and a variety of terms to match your goals.

Whether you’re buying your first home, upgrading, or investing, we’ll guide you through the process so you can feel confident from application to closing.

What Is a Conventional Mortgage?

A conventional mortgage is not insured or guaranteed by the federal government. Instead, it’s funded by private lenders such as banks, credit unions, and mortgage companies. Why many buyers choose conventional loans

  • Stable Rates – Choose a fixed rate for predictable monthly payments

  • Wide Loan Options – From starter homes to jumbo properties

  • Lower Costs Over Time – Avoid certain fees common with government-backed loans

  • Conventional loans can be conforming (meeting Fannie Mae and Freddie Mac guidelines) or nonconforming (like jumbo loans for higher-priced homes).

Who Qualifies for a Conventional Loan?

You may qualify if you

  • Have a credit score of at least 620 (higher scores can mean better rates)

  • Can provide proof of income and employment

  • Have a manageable debt-to-income ratio (typically under 50%)

  • Are prepared to make a down payment (as low as 3% for qualified first-time buyers)

Down Payment & PMI

FHA loans require two forms of mortgage insurance:

  • First-Time Buyers – As little as 3% down with certain programs

  • Standard Purchase – Typically 5%–20% down

  • Avoid PMI – Put 20% down to skip private mortgage insurance

  • PMI can be removed once you reach 20% home equity

Types of Conventional Mortgages

  • Fixed-Rate – Steady payments for the life of the loan

  • Adjustable-Rate (ARM) – Lower initial rate, adjusts over time

  • Jumbo Loans – For homes exceeding conforming loan limits

  • Low Down Payment – Great for buyers with limited upfront funds

  • Renovation Loans – Finance your home purchase and improvements together

Advantages of Conventional Loans

  • Flexible property types – buy a single-family home, condo, vacation home, or investment property

  • Potential for lower interest rates than FHA loans

  • No upfront mortgage insurance fees

  • Wide range of loan terms and repayment options

Get Started Today

Whether you’re buying, renovating, or refinancing, we’ll help you secure the right

loan for your needs—quickly and confidently.

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Information is subject to change and does not constitute a loan approval or commitment to lend. Applications subject to credit and underwriting review. Not for use in NY.


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