Conventional Residential Loans

The Reliable Choice for Your Next Home.

Conventional loans offer great rates, flexible terms, and wide eligibility—making them the preferred choice for many buyers. Whether you’re purchasing your first home or upgrading to your next, this loan offers dependable financing with predictable monthly payments.

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Conventional loans are often a great option for homebuyers with good credit and a larger down payment. A conventional loan with BayFirst also comes with:

  • Easy application in our mortgage app
  • Low, competitive interest rates
  • Fixed and adjustable-rate options
  • No Private Mortgage Insurance (PMI) with enough down

There are two types of conventional loans to choose from so be sure to explore all options with your BayFirst lender.

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Why BayFirst?

At BayFirst, we’re Here for What’s Next®, including your new address. But before you can make yourself at home, you’ll need to find the right mortgage. For more than 20 years, BayFirst’s expert mortgage lenders have been helping buyers like you find the best rates, terms, and loan types to get you moving, and providing personalized support to write home about.

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What’s The Next Step?

Contact A Mortgage Expert

Unsure if a convention loan is your best option? We can help you weigh your options.

Get Preapproved

Easily apply online or in a banking center. Approval is fast and your funds are often available the same day.

Go Shopping

Stay within your preapproved limit, keeping in mind closing costs, inspections and other additional fees associated with buying a home.

Lock In A Rate

Once you’ve found the home you want, you’ll lock in a rate as the application is processed.

Move In

After the application process is complete, you’re clear to close, grab the keys and move on in.

Gather your income history, debt information, social security number and bank statements. Still on the fence or need more details?

Connect With A Lender

Conventional Loan FAQs

Do I qualify for a conventional loan?

It depends on a number of factors, but qualifying typically requires a credit score over 700 and a 20% down payment.

Do I need to get preapproved for a home loan?

Not necessarily, but many sellers prefer buyers who are preapproved because it shows you can close on the home, which puts you ahead of the competition and makes the process easier.

What’s the difference between a conventional and non-conventional mortgage?

Conventional loans are made available through private lenders and not backed by the government, while non-conventional loans are insured by the U.S. federal government, meaning the government protects the lender against loss if a borrower does not pay their loan. For more differences, visit our blog.

Are there different types of conventional loans?

BayFirst offers conforming conventional loans, which have maximum loan amounts determined by the government and other restrictions set by Fannie Mae or Freddie Mac, two companies that provide backing for conforming loans. We also offer non-conforming (such as Jumbo loans) for which eligibility, pricing and features can vary widely by lender.

Can I use a conventional loan to purchase a second home?

Yes. Unlike non-conventional loans, conventional loans can be used to purchase a secondary home like a vacation home or investment property.

All loans subject to approval, including credit approval. Income, credit and property restrictions may apply. Other programs available. Programs subject to change or termination without notice. BayFirst National Bank is not affiliated with the Federal Housing Administration, U.S. Department of Veterans Affairs, or any other government agency.