Conventional loans offer flexible terms, competitive rates, and no upfront government mortgage insurance for qualified buyers. Ai Remco LLC works with a wholesale lender and receives compensation for arranging mortgages. Applicable terms and costs are provided in your loan disclosures.
Competitive rates
Review available conventional programs and applicable costs.
No upfront mortgage insurance
No government-program funding fee, and private mortgage insurance applies only below a set equity threshold.
Flexible options
Fixed-rate and adjustable-rate programs, subject to lender availability and qualification.
Cancel PMI
PMI cancellation depends on the applicable rules, payment history and loan conditions. Ask your servicer about eligibility.
What is a conventional loan?
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA or VA. Because the lender assumes more of the risk, borrowers typically need stronger credit and a stable income, but in return they often get lower overall costs and more flexible loan structures.
Conventional loans are the most common type of mortgage in the U.S. They can be used to purchase or refinance a primary residence, second home, or investment property, and they are available as fixed-rate or adjustable-rate mortgages.
Fixed-rate vs. ARM
On a fully amortizing fixed-rate loan, the interest rate and scheduled principal-and-interest payment stay the same; taxes, insurance and total monthly payment can change. An adjustable-rate mortgage can change rate and payment under its terms; an initial rate is not necessarily lower.
Private mortgage insurance (PMI)
Below a set equity threshold, conventional loans require private mortgage insurance. Unlike FHA mortgage insurance, conventional PMI can be cancelled — automatically once the loan amortises to the level federal rules specify, or on request once you reach the required equity. That cancellability is a real advantage over FHA.
Conventional loan requirements
Typical requirements
- A minimum credit score set by the agencies and by the lender; higher scores generally receive better pricing
- A down payment that varies by program and by whether you are a first-time buyer
- A debt-to-income ratio within agency guidelines
- Stable employment and income history
- Appraisal supporting the purchase price or value
Great for borrowers who
- Have good credit and manageable debt
- Can put down enough to avoid private mortgage insurance
- Want flexible loan terms
- Are buying a second home or investment property
- Prefer a loan without government mortgage insurance
Questions, answered
New Jersey counties where borrowers use this program
Ai Remco LLC is a licensed New Jersey mortgage broker serving borrowers throughout the state. These county pages explain how this program fits local property types, price ranges and municipalities.
- Warren County, NJ
The default for most Warren County purchases, including single-family homes on acreage.
- Hunterdon County, NJ
The core program for most Hunterdon purchases and refinances.
- Morris County, NJ
The workhorse program across Morris County's single-family markets.
- Somerset County, NJ
The default across Bridgewater, Hillsborough and Montgomery.
- Sussex County, NJ
Standard financing for Sparta, Byram and Newton-area homes.
- Essex County, NJ
The standard path in Montclair, Maplewood, Bloomfield and the suburban towns.
- Union County, NJ
The standard path across Cranford, Westfield, Scotch Plains and the western towns.
- Bergen County, NJ
Standard financing for single-family and warrantable condo purchases.
- Middlesex County, NJ
Carries most of Middlesex County's purchase volume.
- Monmouth County, NJ
The workhorse program inland across Freehold, Manalapan, Marlboro and Howell.
- Ocean County, NJ
The primary program across Toms River, Brick, Jackson and Manchester.
- Hudson County, NJ
The standard path for warrantable condominium purchases countywide.
- Passaic County, NJ
The standard path in Clifton, Wayne, Hawthorne and the northern townships.
- Mercer County, NJ
The core program across Hamilton, Lawrence and Robbinsville.
- Burlington County, NJ
Standard in Mount Laurel, Moorestown, Evesham and Cinnaminson.
- Camden County, NJ
The standard path in Cherry Hill, Voorhees, Haddonfield and Collingswood.
- Gloucester County, NJ
The default for new construction and established suburban purchases.
- Atlantic County, NJ
The default for Northfield, Linwood and Somers Point purchases.
- Cape May County, NJ
Used for both primary residences and second homes here.
- Cumberland County, NJ
Standard financing for stronger-credit and higher-down-payment buyers.
- Salem County, NJ
Standard financing, including on acreage properties.
Every county we serve is on our New Jersey page.
Ready to compare conventional loan options?
Talk to a licensed loan officer and see which wholesale conventional options fit your scenario.
Ai Remco LLC, NMLS #2560393. Licensed mortgage broker. This page is for general information only and is not a commitment to lend. All loan applications are subject to credit approval, property appraisal, income and employment verification, and underwriting. Rates, terms, and availability are subject to change without notice and vary by borrower. Equal Housing Opportunity. See our Licensing & Disclosures page.