At Simply Approved Mortgages, we understand that securing a conventional loan can be a pivotal step in achieving your financial goals. Our expert team is dedicated to simplifying the process and providing you with tailored solutions that meet your unique needs.
A conventional loan is a type of mortgage not insured by a government agency such as the FHA or VA. These loans are backed by private lenders and typically follow the guidelines set by Fannie Mae and Freddie Mac. Conventional loans are a popular choice for borrowers with strong credit histories and stable finances.
Disclaimer: Advertised rates and fees depend on borrower qualifications and market fluctuations.
Competitive Interest Rates:
Flexible Terms:
No PMI with Higher Down Payment:
Wide Range of Uses:
Higher Loan Limits:
At Simply Approved Mortgages, we operate with a 1.5% fee, significantly below the industry standard. This ensures more savings for borrowers without compromising service quality.
Disclaimer: Simply Approved Mortgages complies with all state and federal licensing requirements that we are licensed in.
Credit Score:
Debt-to-Income Ratio (DTI):
Down Payment:
Loan Limits for 2025:
Property Type:
| Feature | Conventional Loans | FHA/VA Loans |
|---|---|---|
| Credit Score Requirement | Minimum 620 | 500–580 (FHA), no minimum for VA |
| Down Payment | 3%-20% | 3.5% (FHA), 0% (VA) |
| Mortgage Insurance | No PMI with 20% down | Required for FHA loans |
| Loan Limits | Higher in high-cost areas | Lower for FHA |
| Flexibility | Investment properties allowed | Limited to primary residences |
More Options for Borrowers:
Lower Overall Costs:
Flexibility:
Gather Documentation:
Get Pre-Approved:
Your Mortgage Journey Starts Here:
Close Your Loan:
At Simply Approved Mortgages, we offer a wide range of mortgage products tailored to meet your needs:
👉 Explore these options today and find the perfect mortgage solution for your needs!
With our industry-leading 1.5% fee, compared to the standard 2.75%, we save you thousands while offering competitive rates tailored to your needs. Learn More.
Our team of seasoned professionals is dedicated to simplifying the mortgage process, providing personalized solutions, and ensuring you feel confident every step of the way.
We prioritize honesty and clarity. From disclosing every detail upfront to ensuring no hidden surprises, we build trust through our commitment to your financial success.
Yes, you can qualify with as little as 3% down, especially for first-time homebuyers.
PMI is required if your down payment is less than 20%, but it can be removed once you reach 20% equity.
No, conventional loans can also be used for second homes and investment properties.
Take control of your home-Take the guesswork out of your home-buying journey. Use our Mortgage Calculator to estimate your monthly payments and make informed financial decisions.
Start Now:
Simply input your details and see how much equity you could access today. If you have questions or need assistance, our team is here to guide you every step of the way.
Get a free credit score check to understand where you are and how to move forward.
Small changes in your credit score can lead to significant savings on your mortgage.
Stay on top of your credit health with credit monitoring, so you can catch issues early and maintain a strong score.
Discover how your credit score affects your mortgage options and rates. Plus, get personalized offers through our partner services to help you find the best loan for your financial situation.
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No credit card is needed to sign up.
Remember that a good credit score can lower your interest rate on your mortgage.
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
In today’s fluctuating economy, Canadian homeowners are increasingly looking at refinancing their mortgages
Reduce your monthly payment or loan term while unlocking the full potential of your home’s equity!
Unlocking the American Dream, One Home at a Time
NMLS# 2620881 | NMLS Consumer Access Record