Find The Right Mortgage For You
Learn more about conventional mortgages and if they're the right type of mortgage for you.
Read MoreConventional Loans
Trusted, Local Lending from Start to Finish
If you’re considering a conventional home loan, don’t settle for a process that’s anything less than exceptional. We’ll help make your home-buying experience a breeze so that you can focus on what really matters—like where you’re going to put the couch.
Today’s Conventional Loan Rates
Features & Benefits
Low Down Payment
With low down payment options, we can help get you into your new home fast!
$0 Application Fee
There’s no cost to apply and the application process is easy.
Lock in Your Rate
Lock in your rate up to 90 days before closing.Once your loan is approved, your rate can be locked up to 90 days.
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Frequently Asked Questions
What is a conventional mortgage?
A conventional mortgage is a type of unsecured home loan issued by private lenders like credit unions, banks, or mortgage companies. You’ll pay a down payment ranging from 3% to 20%, then pay back the remainder of the loan in monthly installments for an agreed-upon loan term, typically from 15 to 30 years.
What are the down payment options?
The down payment for a conventional loan can be as low as 3% and as high as 20% of the loan total. Paying a higher down payment gives you more equity in your home from the jump. For low down payments, you may need to pay Private Mortgage Insurance. Arkansas Federal offers several different types of home loan options that offer different solutions and down payment options depending on your needs.
What does pre-qualification mean?
Pre-qualification is the process of calculating how much house you can afford. Your lender will take information like your total debt, income, and assets, and use that to provide an estimate of the loan amount and home price you can afford.
What credit score is needed for a conventional loan?
A credit score of 620 is required to qualify for a conventional loan.
What does debt-to-income mean?
Debt-to-income (DTI) refers to all your monthly debt payments – things like loans, credit card bills, etc. – divided by your gross monthly income.
How do I apply?
You can get a quote on a conventional loan in just a few minutes online, talk with our mortgage lending team, or visit your local branch to learn more.
