Conventional in Charlotte, NC
Conventional loans in Charlotte and across North Carolina are not backed by the federal government. They offer flexible terms, competitive rates, and are a strong fit for buyers with good credit and a solid down payment. In the Charlotte metro, conventional financing is the most common choice for move-up buyers and those who can put down at least 3–5%.
Key Benefits
- Competitive interest rates for borrowers with good credit (typically 620+).
- Flexible down payment options: as low as 3% for qualified buyers.
- No upfront mortgage insurance with 20% or more down; PMI can be removed once you reach 20% equity.
- Wide variety of terms (15, 20, 30 years) to match your goals in the Charlotte market.
Requirements
| Requirement | Details |
|---|---|
| Credit score | Typically 620+ (better rates at 740+) |
| Down payment | As low as 3%; 20% avoids PMI |
How It Works
Get pre-approved
We review your income, assets, and credit to determine how much you can borrow. Pre-approval strengthens your offer in Charlotte’s competitive market.
Find your home and go under contract
Once you’re under contract, we order the appraisal and move your file into processing.
Underwriting and closing
The underwriter verifies your documentation. After clear-to-close, we schedule closing so you can get the keys.
Frequently Asked Questions
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