What can stop me from getting a conventional loan?
Common stoppers: credit score below the lender's floor (commonly 620), recent late payments or collections, DTI too high without compensating factors, unstable or unverifiable income, unsourced large deposits, condo project not warrantable, low appraisal, loan amount over the conforming limit without jumbo qualification, property condition issues, and lender overlays tighter than Fannie/Freddie.
What this actually means.
Borrower-side stoppers: credit (recent lates, fresh bankruptcy or foreclosure inside the seasoning window, high credit-card utilization), income (gaps, brand-new self-employment, declining trends), DTI without strong reserves, large deposits without documentation. Property-side stoppers: appraisal flags, condo project failing warrantability, loan amount over the conforming limit. Program-side stoppers: insufficient reserves on multi-financed-property files, second-home occupancy intent that doesn't hold up. Lender-side stoppers: overlays above Fannie/Freddie.
Where this can move.
Credit, income type and stability, debt ratio, reserves, automated underwriting findings, and lender overlays can change the answer.
Ask the question. Get the straight answer.
Send the scenario and I'll tell you what I'm seeing. No application fee. No long form just to get a basic answer.
More conventional questions on Requirements.
Educational only. Conventional loan guidelines, lender overlays, rates, fees, PMI, LLPAs, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with Fannie Mae, Freddie Mac, FHFA, or any government agency.