Conventional Loan Requirements for 2026
Conventional loan requirements are generally stricter than government-backed mortgages.
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When buying a home, many people opt for a conventional loan, a type of mortgage that’s readily available from most lenders.
Conventional loans aren’t backed by a government agency, but they usually follow some government guidelines. Most conventional loans conform to loan limits set by the Federal Housing Finance Agency and follow the credit score and down payment minimums set by the government-sponsored enterprises known as Fannie Mae and Freddie Mac.
Here are the basic requirements for conventional loans.
Mortgage loans from our partners
on NBKC
NBKC
Min. credit score
620
Min. down payment
3%
on New American Funding
New American Funding
Min. credit score
N/A
Min. down payment
0%
on GO Mortgage
GO Mortgage
Min. credit score
620
Min. down payment
3%
Mortgage loans from our partners
on NBKC
NBKC
Min. credit score
620
Min. down payment
3%
on New American Funding
New American Funding
Min. credit score
N/A
Min. down payment
0%
on GO Mortgage
GO Mortgage
Min. credit score
620
Min. down payment
3%
on Rocket Mortgage
Rocket Mortgage
Min. credit score
580
Min. down payment
3.5%
on Veterans United
Veterans United
Min. credit score
620
Min. down payment
0%
Who can qualify for a conventional home loan?
In general, most borrowers with solid credit and a down payment of at least 3% will satisfy conventional loan qualification requirements.
However, because conventional loans aren’t insured or guaranteed by the government, eligibility requirements for borrowers are usually tougher to meet than the requirements for government-backed mortgages. These include FHA loans, which are insured by the Federal Housing Administration; VA loans, guaranteed in part by the Department of Veterans Affairs; and USDA loans, the program run by the U.S. Department of Agriculture.
Did you know...
Conventional lenders are free to enforce requirements that are stricter than the guidelines set by the FHFA, Fannie and Freddie. If you’re applying for a conventional mortgage after foreclosure or bankruptcy, for example, you might have more trouble qualifying. Conventional loan credit score requirements
To qualify for a fixed-rate conventional loan, you’ll typically need a credit score of at least 620. Borrowers with credit scores of 740 or higher can make lower down payments and tend to get the most attractive conventional loan rates, however.
Conventional mortgage debt-to-income requirements
Mortgage lenders generally require a debt-to-income ratio (DTI) that's below 36% for conventional loans, though in some cases a lender may accept a higher DTI. Your DTI represents the total amount of your existing monthly debts (like rent or a car payment) divided by your pre-tax monthly income. Use a debt-to-income calculator to see where you stand.
» MORE: Learn why your DTI matters
Conventional loan down payment requirements
The minimum down payment required for a conventional mortgage is 3%, but borrowers with lower credit scores or higher debt-to-income ratios may be required to put down more. You'll also likely need a larger down payment for a jumbo loan or a loan for a second home or investment property.
Low-down-payment conventional loan programs like HomeReady and Home Possible are designed to help prospective home buyers with good credit scores but limited savings. If you put down less than 20% on a conventional mortgage, you’ll typically be required to pay for private mortgage insurance, or PMI.
Conventional loan limits
The maximum amount you can borrow with a conventional mortgage depends on the type of conventional mortgage you choose — conforming or nonconforming.
Conforming conventional loan: Loan limits for conforming conventional loans are set by the FHFA. The maximum for 2026 is $832,750 in most U.S. counties and $1,249,125 in high-cost areas.
Nonconforming conventional loan: Lenders are free to set their own limits for nonconforming conventional loans, which include jumbo loans.
Find your conventional loan limit
Conventional mortgages must comply with the local FHFA limit to be considered conforming. Use our tool below to find the loan limit for your county; if your budget exceeds that number, you may want to explore jumbo loan lenders.
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