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What is your goal?


When are you
looking to buy?

Within 30 days
2-5 months
6 months - 1 year

How is your credit score?

Poor (619 or below)
Fair (620 - 679)
Good (680 - 719)
Excellent (720+)

Where are you
looking to buy?

How much are you
looking to spend?

$150 - 175k

What is your estimated
down payment?

18 - 21%
Please complete all fields.

Are you working with a loan officer?


Let's connect!

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Thank you for
reaching out!
A Loan Officer will be in contact with you soon.

Would you like to continue to complete your full application?

No, thanks.

What are your refinance goals?

Lower Rate
Smaller Payment
Shorter Loan

Where are you currently living?

What is your current balance on your mortgage?

$75 - 100k

What is your estimated home value?

$150 - 175k
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Conventional Loan

Conventional loans are the most popular loan type. These are loans that are not offered by the federal government (like FHA or USDA loans). Instead, conventional loans are available only through private lenders such as banks or mortgage companies like Ruoff Mortgage. The ideal borrower has good credit and has plenty of money for a down payment.

Why a Conventional Loan?


Immediate Equity

Your conventional loan usually requires a 20% down payment. This means you have instant equity in your home as soon as you sign at the closing table. This will benefit you in the long run if you refinance or sell your home.


No Mortgage Insurance

As soon as your conventional loan is paid down to 78%, you will not have to pay mortgage insurance. A down payment of 20% means that for just an extra 2% down, you can avoid monthly mortgage insurance payments entirely.


Faster Closing

A conventional loan is much more straight-forward than a government-backed loan. There are less requirements during the underwriting process which allows for a quick closing. At Ruoff Mortgage, it is about 17 days!


Fixed Rate or ARM Rate

A conventional loan is attractive to sellers because it means you have good financial health. Sellers will often choose borrowers with a conventional loan over a government loan since the process is much simpler.

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Steps to a Conventional Loan:


Get Pre-Approved.

Ruoff's mobile app, Loan Butler, can help you receive your pre-approval letter quickly. Plus, you can upload all required documents straight into the app to save you time and energy.


Speak with a Loan Officer.

Lock in your mortgage rate early and stay in the loop. Your Ruoff Home Mortgage Loan Officer will keep you and your agent updated every step of the way with our Milestone Updates.


Clear to close.

Thanks to Ruoff's Digital Closing Experience, you'll only spend 10 minutes with your loan officer and agent finalizing the purchase at closing.

I'm Interested in a Conventional Loan!


What is the difference between a Fixed Rate & Adjustable Rate Mortgage?

A fixed rate means your principal and interest payment will not change during the fixed period, but an adjustable rate means your principal and interest payment could increase or decrease depending on market interest rates.

Which is better- a fixed or adjustable rate?

This will usually depend on how long you plan to stay in your current home. If you plan to stay around 7 years or less an adjustable rate mortgage may be for you. Loan officers can give you the best options for your situation.

When do I bring my down payment to buy a house?

You will need to have the funds available before we can submit to final underwriting but you will not bring any money until the day of closing and all funds will go to the title company.

Can I finance my closing costs into my home loan?

Not directly. You can negotiate with the seller in your purchase offer to pay your closing costs or you could select a higher interest rate that offered lender paid closing costs. This is commonly called "seller's concessions".

Ready to get started with a Conventional loan?