Conventional Loan Calculator
Estimate your monthly mortgage payment including principal, interest, taxes, insurance, PMI, and HOA.
🧮 Purchase Details
Your Estimated Payment
*Estimates only. Actual rates and payments may vary. Serving Texas & 40+ states.
Understanding Conventional Loans
Key things to know about conventional mortgages
💰 Flexible Down Payment
Conventional loans allow down payments from 3% to 20%+. Putting 20% down eliminates PMI and lowers your monthly payment.
📉 PMI Explained
Private Mortgage Insurance is required with less than 20% down. It can be removed once you reach 20% equity—unlike FHA MIP which stays for the loan’s life.
🏛️ Property Taxes
Property taxes vary by location. Texas averages 1.8-2.2% annually—among the highest nationally. This significantly impacts your monthly payment.
📋 We Shop For You
As a mortgage broker, we shop multiple lenders to find the best rates for YOUR situation—not just one bank’s rates.
Ready for a Personalized Quote?
This calculator provides estimates. Adam & His Team can give you exact rates—no obligation, no upfront credit check.
LET’S TALKConventional Loan FAQ
Common questions about conventional mortgages
What credit score do I need for a conventional loan?
Most lenders require a minimum 620 credit score for conventional loans. However, better rates are available with scores of 740+. We can help you find lenders that fit your credit profile.
How much down payment do I need?
Conventional loans allow as little as 3% down for first-time buyers, or 5% for others. Putting 20% down eliminates PMI and gets you the best rates.
Conventional vs FHA: Which is better?
Conventional is typically better if you have good credit (680+) and can put 10%+ down. FHA may be better for lower credit scores or smaller down payments. We can run both scenarios for you.
Can I remove PMI from a conventional loan?
Yes! PMI automatically drops off at 78% LTV, or you can request removal at 80% LTV. This is a major advantage over FHA loans where MIP stays for the life of the loan.
Ready to Get Started?
Adam Bartling—Army veteran and mortgage broker—will shop multiple lenders to find your best conventional loan rate. No obligation, no upfront credit check.
LET’S TALK