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Loan programs
Conventional loans with realexpertise behind them.Conventional LoansWith RealExpertiseBehind Them.
Conventional Loans
A Conventional Loan is one of the most popular mortgage options for homebuyers and homeowners because it offers flexibility, competitive interest rates, and a wide range of loan terms. Conventional loans are not backed by a government agency and are typically funded through private lenders and investors. These loans are ideal for borrowers with stable income, good credit, and the ability to meet standard lending guidelines.
Conventional loans can be used to purchase a primary residence, second home, or investment property. They are available with fixed-rate and adjustable-rate options, giving borrowers flexibility based on their financial goals. Many buyers choose conventional financing because it often provides lower long-term costs compared to government-backed loans when the borrower has strong credit and a solid financial profile.
One major advantage of a conventional loan is that private mortgage insurance (PMI) can eventually be removed once sufficient home equity is reached, typically after reaching 20% equity in the property. This can significantly lower monthly mortgage payments over time.
Conventional loans can be used to purchase a primary residence, second home, or investment property. They are available with fixed-rate and adjustable-rate options, giving borrowers flexibility based on their financial goals. Many buyers choose conventional financing because it often provides lower long-term costs compared to government-backed loans when the borrower has strong credit and a solid financial profile.
One major advantage of a conventional loan is that private mortgage insurance (PMI) can eventually be removed once sufficient home equity is reached, typically after reaching 20% equity in the property. This can significantly lower monthly mortgage payments over time.
Key Benefits of Conventional Loans:
Competitive interest rates
Flexible loan terms and property types
Lower overall borrowing costs for qualified borrowers
PMI can be removed after building equity
Suitable for primary homes, vacation homes, and investment properties
Down payment options may start as low as 3% for qualified buyers
Ideal For:
• Borrowers with good to excellent credit
• Buyers with stable employment and income
• Homeowners looking to refinance for better terms
• Individuals purchasing investment or second homes
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You have questions and we have answers
Navigating the dynamic mortgage landscape can feel daunting. We've compiled a list of commonly asked questions by Residential and Commercial borrowers. For deeper insight, schedule your consultation with one of our Mortgage experts today.
Contact Our ExpertsHow soon will the funds be made available after approval?
Funds are typically made available within 5 working days after approval. However, the exact timing may vary depending on processing requirements and banking procedures. You will be notified once the funds have been successfully transferred.
What will my monthly payment be?
Your monthly payment depends on your loan amount, interest rate, and term length. We can provide a detailed estimate during your consultation.
How much do I need for a down payment?
Down payment requirements vary by loan program. Some programs allow as little as 3% down, while others may require 20%.
What happens if rates change while I’m under contract?
We offer rate lock options to protect you from rate increases while your loan is being processed.
Do I need to have my taxes and insurance escrowed?
Escrow requirements depend on your loan type and down payment amount. We will discuss your specific situation and options.
Can I buy a second home or investment property?
Yes, we offer specialized mortgage products for second homes and investment properties.
What happens if I pay off my mortgage early?
Most of our mortgage products do not have prepayment penalties, meaning you can pay off your loan early without extra fees.
How do I choose between fixed and adjustable rates?
A fixed-rate offers stability with consistent payments, while an adjustable-rate might offer lower initial rates. We'll help you choose based on your financial goals.
TESTIMONIAL
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We let our track record speak for itself — straight from the people we've served.
I had a great experience working with Drift Financial, and the entire mortgage process was smooth from start to finish. Hassan Barada was especially outstanding—professional, responsive, and extremely knowledgeable. He took the time to explain everything clearly and made sure I felt confident at every step. His attention to detail and commitment to getting the best outcome really stood out. I highly recommend Drift Financial and Hassan to anyone looking for a stress-free and efficient mortgage experience.
Jamal Maraachli
I had a great experience with Drift Financial. The whole process was easy, smooth, and stress free from start to finish. Pete was amazing to work with, professional, helpful, and always quick to answer any questions. He made everything simple and straightforward. I would highly recommend working with Pete and this team.
Shannon Nelson
Drift Financial is hands down the best I’ve worked with. The team was professional, responsive, and made the entire process smooth from start to finish. Highly recommend to anyone looking for a reliable mortgage broker!
Al H
Had a great experience working with Gus at Drift! Great customer service and quick process! Thanks!
Anna Fatouhi
Great Experience all around. Quick closing, great communication.
Mike Ajami
Great service. Great experience overall
Sami Hammoud
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