Conventional Loans
Borrow with Betty believes in homeownership opportunities for everyone, including non-U.S. citizens.
Reliable, Flexible Mortgage Options for Every Homebuyer
At Borrow with Betty, we offer Conventional Loans as one of our most popular and versatile mortgage options for Illinois homebuyers. These loans are not backed by a government agency, which gives them greater flexibility and a wide range of customizable terms to suit your financial situation and goals. Conventional Loans typically come with competitive interest rates, especially for borrowers with strong credit.
With flexible term lengths and both fixed and adjustable rate options, these loans are ideal for a broad spectrum of borrowers—from first-time buyers to seasoned homeowners looking to refinance or upgrade.
One of the most notable benefits of a Conventional Loan is the opportunity to avoid private mortgage insurance (PMI) if you’re able to put down at least 20%. This can significantly reduce your monthly payment and overall cost over the life of the loan, making it a cost-effective choice for many buyers.
These loans can be used to purchase primary residences, second homes, and even investment properties. Whether you’re buying a single-family home in Naperville or a condo in downtown Chicago, Conventional Loans provide the flexibility to finance the property that fits your lifestyle.
Down payment requirements start as low as 3% for qualified buyers, and we help you explore all available options to find a solution that balances affordability with financial confidence. If you’re bringing a higher down payment to the table, you may benefit from even better rates and terms.
Conventional Loans do come with more stringent credit and income requirements than government-backed loans, but they also offer more freedom in loan structure and less bureaucracy during underwriting. We work with you closely to ensure you meet these guidelines while keeping the process smooth and stress-free.
They are also ideal for borrowers looking to refinance existing mortgages—either to secure a lower rate, shorten their loan term, or tap into home equity. Conventional refinancing can be a powerful way to improve your financial picture and plan for the future.
With no upfront mortgage insurance premiums, and fewer restrictions on property types and loan amounts, Conventional Loans give you control and choice throughout your homeownership journey. They’re a smart option for those who want long-term stability with a personalized approach.
At Borrow with Betty, we’re committed to helping Illinois homebuyers find the mortgage that fits. If you’re looking for a well-rounded, cost-effective loan with flexibility and strong long-term value, our Conventional Loan solutions are ready to open the door to your next home.
