How much do I need to put down?

Conventional loans go as low as 3% down for first-time buyers and 5% for repeat buyers. Below 20%, you'll carry private mortgage insurance until you reach 20% equity.

What credit score do I need?

Most conventional programs require a 620 FICO; you'll see better pricing at 720+ and best pricing at 760+.

Can I use a gift for the down payment?

Yes — documented gifts from family are allowed on conventional loans. We'll walk you through the donor letter and paper trail.

Loan Program

Conventional mortgages, structured for real borrowers.

The most flexible product on the market — and usually the best long-term rate for buyers with solid credit and steady income.

Min down

620

Min FICO

$806k

Loan limit (Marion)

10–30 yr

Term

Best fit for

First-time buyers with strong credit and 3–5% saved
Move-up buyers using existing home equity
Borrowers who plan to drop PMI once they cross 20% equity

Worth knowing

PMI is required below 20% down (cancellable later)
Pricing tightens for condos and non-warrantable projects
Debt-to-income ceilings are stricter than government loans

Questions we hear

How much do I need to put down?: Conventional loans go as low as 3% down for first-time buyers and 5% for repeat buyers. Below 20%, you'll carry private mortgage insurance until you reach 20% equity.
What credit score do I need?: Most conventional programs require a 620 FICO; you'll see better pricing at 720+ and best pricing at 760+.
Can I use a gift for the down payment?: Yes — documented gifts from family are allowed on conventional loans. We'll walk you through the donor letter and paper trail.

Want to see if this fits your situation?

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Program details shown on this page — including down payment percentages, terms, and qualifying figures — are general guidelines from wholesale lender programs and are provided for informational purposes only. They are not an offer of credit, an advertisement of specific credit terms, a rate quote, or a commitment to lend. Actual down payment, rate, annual percentage rate (APR), term, points, fees, and monthly payment depend on your credit, income, assets, property, occupancy, and the lender's underwriting, and are disclosed only after a complete application. Program availability and terms are subject to change without notice. All loans subject to credit approval.

Dages Capital is a mortgage brokerage licensed in Indiana, NMLS #2802965. Equal Housing Opportunity.