Conventional LoansConventional financing are the ones supported by personal lenders, in place of specific bodies apps. These types of fund fall under a few groups: conforming and you can low-conforming. Very traditional home loans try compliant funds, which meet up with the criteria place by Federal national mortgage association and you can Freddie Mac computer – a minimum credit score of 620, an obligations-to-income ratio (DTI) below fifty percent and you can the absolute minimum advance payment of step 3 percent.