What credit score do I need for a conventional mortgage?

Most conventional loan programs look for a credit score of 620 or higher. Stronger scores generally qualify for better pricing. ASJ Mortgage Solutions can review your profile and show you where you stand at no cost.

What is the difference between a conventional loan and an FHA loan?

Conventional loans are not insured by a government agency and typically offer cancellable mortgage insurance, flexible property types, and competitive pricing for borrowers with solid credit. FHA loans are government-insured with more flexible credit requirements but carry mortgage insurance for most of the loan term.

Conventional Loans · Peoria, Arizona

Conventional Home Financing in Peoria, AZ — Made Easy

ASJ Mortgage Solutions, LLC is a Peoria-based mortgage broker helping Arizona buyers and homeowners compare conventional loan options from multiple lenders — so you get competitive pricing without doing the shopping yourself.

Down payments as low as 3% for qualified first-time buyers
Cancellable private mortgage insurance (PMI) as you build equity
Fixed and adjustable-rate terms for purchase or refinance
Local guidance for Peoria, Vistancia, and the West Valley market

Start My Loan Quote Call 480-376-7355

Free consultation · No obligation · NMLS #1909669 · AZ Broker License #MB-1005394

Get Your Conventional Loan Quote

Answer a few quick questions — we'll follow up with options tailored to you.

Single-family home with a green lawn, a common conventional loan purchase in Peoria AZ

Your first home in Peoria — from 3% down with a conventional loan

Modern Arizona home exterior financed with conventional mortgage

Move-up buyers: competitive conventional pricing on your next home

Home with pool in the Phoenix West Valley

West Valley living — Vistancia, Fletcher Heights, Westbrook Village & more

Home exterior representing conventional refinance options in Arizona

Already own? Ask about a conventional refinance or PMI removal

Photos: royalty-free via Unsplash

Why a conventional loan?

The most popular mortgage in America — for good reason

Conventional loans are mortgages that aren't insured by a government agency like FHA, VA, or USDA. For Peoria borrowers with steady income and solid credit, they often deliver the best combination of flexibility, pricing, and long-term savings.

Low Down Payment Options

Qualified first-time buyers may put as little as 3% down. Gift funds from family are typically allowed toward your down payment and closing costs.

Cancellable PMI

Unlike most FHA loans, private mortgage insurance on a conventional loan can be removed once you reach sufficient equity — lowering your payment for good.

Flexible Property Types

Finance primary residences, second homes, and investment properties — including many condos and 2–4 unit homes that other programs restrict.

Fixed or Adjustable Terms

Choose a predictable 30- or 15-year fixed rate, or an ARM with a lower introductory rate if you plan to move or refinance within a few years.

Purchase & Refinance

Use conventional financing to buy your next home, lower your current rate, shorten your term, or take cash out of your home's equity.

Broker Advantage

As a broker, ASJ Mortgage Solutions shops multiple wholesale lenders on your behalf — comparing rates and fees so you don't have to.

At a glance

Conventional loan basics

Every borrower's situation is different — these are general program guidelines. We'll confirm exactly what you qualify for during your free consultation.

Feature	Typical Conventional Guideline
Minimum down payment	As low as 3% for qualified first-time buyers; 5% for many other purchases
Credit score	Generally 620+; stronger scores earn better pricing
Mortgage insurance	Required under 20% down, but cancellable as equity grows
Loan terms	10-, 15-, 20-, and 30-year fixed; ARM options available
Loan amounts	Up to the conforming limits set annually by the FHFA; jumbo options above
Occupancy	Primary homes, second homes, and investment properties
Use	Purchase, rate/term refinance, and cash-out refinance

Local expertise

Your Peoria, Arizona mortgage broker

Based right here in Peoria (85382), ASJ Mortgage Solutions, LLC knows the West Valley market — from new builds in Vistancia and Lake Pleasant corridor communities to established neighborhoods like Fletcher Heights, Westbrook Village, Terramar, and Dove Valley Ranch. Whether you're relocating for work near the Loop 101, buying your first home close to Peoria Unified schools, or right-sizing in an active-adult community, we structure conventional financing around your goals — not the other way around.

Conventional loans across Arizona — city by city

ASJ Mortgage Solutions, LLC is licensed to serve borrowers statewide. Wherever you're buying or refinancing in Arizona, we bring the same local-broker service and multi-lender pricing.

Don't see your city? We serve borrowers throughout the entire State of Arizona — call 480-376-7355 or start your quote.

How it works

From quote to keys in four steps

Our process is a real sequence — here's what happens after you reach out.

Quick Consultation

Complete the short survey above or call 480-376-7355. We'll discuss your goals, budget, and timeline.

Compare Options

We shop multiple wholesale lenders and present conventional loan options side by side, in plain English.

Get Pre-Approved

A solid pre-approval strengthens your offer in Peoria's competitive market and locks in your buying power.

Close With Confidence

We coordinate with your agent, the lender, and title to keep your closing smooth and on schedule.

FAQ

Conventional loan questions, answered

Straight answers to what Peoria buyers ask us most.

How much do I need to put down on a conventional loan?

Qualified first-time buyers may put as little as 3% down. Putting 20% down lets you avoid private mortgage insurance (PMI), but many buyers choose a smaller down payment and cancel PMI later as their equity grows.

What credit score do I need?

Most conventional programs look for a score of 620 or higher, with better pricing available at higher score tiers. Not sure where you stand? We'll review your profile at no cost and show you options — and what steps could improve your pricing.

Conventional vs. FHA — which is better for me?

It depends on your credit, down payment, and the property. Conventional loans usually win for borrowers with solid credit because PMI is cancellable and pricing is competitive. FHA can be the better fit for lower credit scores or higher debt ratios. We'll run both side by side so you can see the real numbers.

Can PMI really be removed?

Yes. Private mortgage insurance on a conventional loan can be cancelled once you reach sufficient equity in the home — unlike most FHA loans, where mortgage insurance typically lasts for most or all of the loan term.

Do you only work in Peoria?

No — we're headquartered in Peoria and serve borrowers throughout Arizona, including Glendale, Surprise, Sun City, Goodyear, Avondale, Phoenix, and Scottsdale.

Ready to see your conventional loan options?

Free quote. No obligation. Local answers from a Peoria broker.

☎ 480-376-7355

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