Welcome to Conventional Loans

Conventional loans are the right choice for 2/3 of U.S. homeowners

Conventional mortgages offer the most flexible options and fastest underwriting

barndominium conventional loans

A conventional mortgage is not secured by a specific government program, like the FHA, VA or USDA. They are guaranteed by private lenders, Fannie Mae, or Freddie Mac. Fannie Mae and Freddie Mac are government-sponsored entities.

Conventional loans

Is a conventional mortgage right for me?

Conventional mortgages are a great option for homebuyers with a solid credit score and funds for a downpayment. If you are not a veteran, buying in a rural area, or meet the income requirements for other government programs, a conventional loan may be your best option.

Conventional loans typically have stricter requirements.

To be eligible for a conventional loan, you need:

Strong Credit Score

-620 or more
– Over 740 can earn lower interest rates or down payments

Down Payment

-3 – 20%
-Less than 20% requires private mortgage insurance (PMI)

Low Debt-to-Income Ratio

-Varies but typically 36% or less
-43% or less for Jumbo loans

Happy Clients with Barndominiums Financing

As a first-time homebuyer, the process of financing can be daunting. However, American Barndominiums made it seamless with their expertise in FHA Loans. Their team walked me through every step, providing detailed construction plans that reassured both me and the lenders. I’m now the proud owner of a beautiful barndominium, thanks to their comprehensive services and support.

Emily Thompson

I opted for a conventional loan for my barndominium project, and I couldn’t be happier with the support from American Barndominiums. Their comprehensive plans and expertise in zoning and appraisal made the financing process smooth. Their dedication to going beyond just financing helped me build my dream home with ease.

Alex Rivera

Living in a rural area, I thought building a barndominium would be complicated, but American Barndominiums proved me wrong. They specialize in USDA Loans, which was perfect for my situation. Their zoning expertise and specialized appraisers made the financing process straightforward, and now I have the perfect home for my family.

Marcus Johnson

American Barndominiums’ claim of full-service support is 100% true. From securing a conventional loan to navigating the construction and appraisal process, their team was there every step of the way. Their detailed plans and zoning knowledge were crucial in getting my project off the ground. I’m deeply grateful for their dedication.

Natalie Kim

As a veteran, I wanted to utilize a VA Loan for my barndominium. American Barndominiums’ team was incredibly knowledgeable about the VA Loan process. They provided detailed construction plans and had specialized appraisers who understood the unique value of barndominiums, ensuring I got the best deal possible. Their full-service support was invaluable.

Jessica Walters

The team at American Barndominiums is phenomenal. Not only did they help me secure a USDA Loan, but their full-service approach covered everything from construction plans to dealing with zoning. Their specialized appraisers and comprehensive support were key to the success of my barndominium project. They truly go beyond financing.

Derek Smith

Tested and tried for over 20 years

Why consider a conventional mortgage?

If you meet the financial requirements, conventional mortgages offer multiple advantages.

  • More options
    Conventional loans offer more types, sizes, and durations from 1 to 40 years.
  • Faster underwriting
    Lenders typically approve conventional loans with less delays than government-backed loans
  • Less paperwork
    With stricter requirements, lenders require less paperwork than other loan options

Qualifying for a conventional mortgage – it’s more than salary

You can use multiple sources of income when applying for a mortgage, including:

  • Salary, bonuses, commissions, and overtime
  • Income and distributions from partnerships, corporations, and estates
  • Retirement income
  • Rental income
  • Disability payments
  • Social security payments
  • Dividend and interest income
  • Alimony
  • Child support
  • Trust income

Ready to finance your dream barndominium?