Conventional Loans

Conventional loans — flexible, as little as 3% down.

A conventional loan is the most common mortgage — flexible, competitive, and available for primary homes, second homes, and investment properties, with down payments starting as low as 3%.

The Clear Conventional Loans advantage

As little as 3% down

Low-down-payment options for qualified buyers.

Cancelable PMI

Mortgage insurance drops off once you reach 20% equity.

Fixed or adjustable

Choose the term that fits your plan.

Primary, second, or investment

Finance more than just your main home.

Conventional Loans — your questions, answered

How much down payment do I need for a conventional loan?

As little as 3% for many first-time buyers, and typically 5% or more for others. Putting 20% down avoids PMI entirely.

What credit score is needed for a conventional loan?

Conventional loans generally start around a 620 score, with better rates at higher scores. We'll show you where you stand and how to improve it.

Can I cancel PMI on a conventional loan?

Yes — unlike FHA, conventional PMI can be cancelled once you reach about 20% equity, lowering your payment.

Explore more loan options

FHA Loans · VA Loans · USDA Loans · Jumbo Loans · Refinance · See all loan options →

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