Conventional Loans
The default path for buyers with reasonable credit and some savings — and the one where a well-built file saves you the most money.
What it actually is
A conventional loan is any mortgage that is not backed by a government agency. Most of them are written to standards set by Fannie Mae and Freddie Mac, which is why the rules are consistent from lender to lender — and why the difference between a smooth approval and a painful one comes down to how the file is put together.
Where people get tripped up
The three things that quietly sink conventional files are income documentation, debt-to-income ratio, and the paper trail on your down payment. All three are fixable — but they are much easier to fix before you are under contract than three days before closing.
Self-employed? Commission income? A side business that shows a loss? Those are not disqualifiers. They are just files that need to be read correctly, which is the part I spent years doing on the underwriting side.
What to bring
Two years of W-2s or tax returns, your most recent pay stubs, two months of bank statements, and a list of any debts you are already carrying. If something on that list looks messy, bring it anyway — surprises late in the process cost far more than surprises early.