Conventional Loans
Flexible financing for confident homebuyers
Buying a home in Henderson, NV is an exciting step. For many borrowers, a conventional loan is the best way to get there. Here at Mortgages by Marlow, powered by GFL Capital Mortgage, we help you take advantage of competitive rates, flexible terms, and minimal fees so you can move forward with confidence.
What is a Conventional Loan?
A Conventional loan is any mortgage not insured or guaranteed by the government (unlike FHA, VA, or USDA loans).
They are backed by Fannie Mae and Freddie Mac, the two major agencies that set nationwide loan standards.
Because they're not government backed, these loans offer more flexibility in property type, loan size, and mortgage insurance options; making them ideal for borrowers with steady income and solid credit.
Quick Highlights
- Minimum down payment as low as 3%
- No upfront mortgage insurance premium
- Flexible loan terms (10-30 years)
- Available for primary, secondary, or investment properties
- Options to remove PMI once you reach 20% equity
🎯Who Conventional Loans Are Best For
Conventional loans are ideal for Henderson buyers with strong credit profiles and steady income. They're also a great fit for homeowners looking to refinance to a lower rate or shorter term.
You may benefit most if:
- You have a credit score of 620 or higher
- You have consistent income and job history
- You can make at least a 3-5% down payment
- You plan to stay in the home for several years
- You want to avoid long term mortgage insurance payments
💬Tip: Even if your score isn't perfect, we can often help improve your profile and qualify you for the best conventional programs available.
Henderson Loan Limits & Pricing
Conforming conventional loans in Clark County, NV follow the 2025 loan limits set by Fannie Mae and Freddie Mac.
- 1-unit home: Loan amounts up to $806,500
- 2-4 Units: Loan amounts up to $1,032,650
Homes above this limit may qualify for Jumbo Conventional financing. As a wholesale lender, we'll compare all options to ensure you get the lowest overall cost.
As a direct wholesale lender and broker, we shop our clients file with dozens of investors to find the best combination of rate, costs, and service. Taking the extra step of shopping for our clients usually results in our clients saving thousands of dollars over the life of the loan.
Conventional Loan Options We Offer
We tailor every loan to your needs, including:
Fixed-Rate Mortgages
Lock in a stable interest rate for the full term of your loan (most popular: 30-year and 15-year). Best for buyers who plan to stay in their home long-term and want predictable payments.
Adjustable-Rate Mortgages (ARM)
Start with a lower rate for the first few years (e.g. 5/6 ARM or 7/6 ARM). Ideal if you plan to sell, refinance, or relocate within 5-7 years.
Conventional Refinances
Refinance your current loan to:
- Lower your rate or payment
- Shorten your term
- Remove mortgage insurance
- Access equity through a cash-out refinance
Mortgage Insurance (PMI) and How to Remove It
Unlike FHA loans, private mortgage insurance (PMI), is only required when you are putting less than 20% down. It can also be removed completely once your equity reaches the 20% mark.
There are different strategies when it comes to structuring PMI. We will help determine the best way to structure your loan to minimize PMI costs, maximize the best use of your funds and show you how to remove the PMI from your loan as fast as possible.
🔎Frequently Asked Questions
What credit score do I need for a Conventional loan in Henderson?
- Fannie and Freddie require at least a 620 credit score, but typically would want at least a 680 to unlock better rates and lower PMI costs.
Can I use gift funds for my down payment?
- Yes! Conventional loans allow gift funds from family towards your down payment of closing costs (depending on occupancy types)
Do conventional loans have income limits?
- Some programs, like Home Ready and Home Possible do, but standard conventional loans generally do not.
How long does it take to close?
- We can close them in as short as 7 days if needed, but most conventional loans close in 2-3 weeks. Having your paperwork ready early in the process helps speed everything as well.