Conventional Loans in Las Vegas
Conventional loans offer competitive rates, customizable options, and no government backing — perfect for buyers with strong credit
What Is a Conventional Loan?
A conventional mortgage is any home loan that isn’t backed by the federal government. This sets it apart from FHA, VA, and USDA loans, which are government-insured or guaranteed. Instead, conventional loans are offered and serviced by private lenders like V.I.P. Mortgage.
These loans can be conforming (meeting guidelines set by Fannie Mae and Freddie Mac) or non-conforming (such as jumbo loans).
Conventional Loan benefits
If you have strong credit, steady income, and the ability to make a larger down payment, a conventional loan may offer key advantages:
Lower interest rates for borrowers with high credit scores
Flexible mortgage insurance options (with potential to cancel PMI once you hit 20% equity)
popular Conventional Loan Programs
Adjustable-Rate Mortgages (ARMs)
An ARM begins with a lower introductory rate and adjusts periodically based on the market. This option is great for short-term homeowners or those expecting a future income increase.
Lower initial monthly payments
Great for buyers who plan to sell or refinance within a few years
Fixed-Rate Mortgage
A fixed-rate mortgage offers long-term peace of mind with an interest rate that stays the same for the entire loan term. Whether you choose a 15-year or 30-year fixed loan, your monthly principal and interest payments will never change. Ideal if you’re planning to stay in your home long-term.
Build equity faster with shorter terms
Protects against market interest rate increases
Jumbo Mortgage
For homebuyers in higher-priced markets like Las Vegas, a jumbo loan enables you to purchase a home that exceeds conforming loan limits. These loans are perfect for buyers with strong financial profiles who need more borrowing power.
Loan Amounts above $806,500 in Clark County
Competitive rates for qualified borrowers
Is a Conventional Loan Right for You?
Conventional loans are ideal for borrowers who:
Have a credit score of 620 or higher
Can provide a minimum 3% to 5% down payment
Want flexible loan term options
Prefer to avoid the restrictions of government-insured programs
If you’re unsure which loan is right for your needs, schedule a free consultation with a V.I.P. Mortgage loan officer.