Conventional

Conventional loans, brokered — so you actually shop the rate.

Fannie- and Freddie-eligible mortgages from $250K to the conforming limit, with rates pulled from the same wholesale desks the retail banks quote out of.

Get my rate Text Devon directly

At a glance

What conventional looks like, in numbers.

Rate (30y fixed)

From 6.25%*

*as of recent quote — Devon to confirm weekly

Loan amount

$250K – $806,500

2026 SoCal conforming limit — Devon to confirm county (OC ~ $1,089,300 expected)

Min credit score

620

660+ for best pricing

Min down payment

3% (HomeReady) / 5% standard

20% to avoid PMI

DTI cap

50%

AUS-driven, can exceed with comp factors

Income docs

W-2, paystubs, 2yr tax returns

Self-employed: 2yr Schedule C

Typical close

21 – 28 days

From signed contract to keys

Who this is for

Three borrowers conventional was built for.

Most of Devon’s conventional files look like one of these. Click the one that sounds like you — it pre-fills the application.

First-time buyer with 5% down

You’ve been saving for a year, your credit is in the high 600s, and you’re finally in contract on something modest. We use HomeReady or standard conventional, layer in the lowest PMI available, and run a real DTI to keep your payment at a number you’ll still be happy with in three years.

Sounds like me

Move-up buyer rolling equity

You sold the starter or you’re carrying both. Either way we’re using the equity efficiently — either a clean rate-and-term off the new appraisal or a bridge structured around your sale calendar. The retail bank treats this like a templated loan; we treat it like a multi-step plan.

Sounds like me

High-credit, best-rate hunter

740+ FICO, 20% down, you know what you’re doing — you just want the cheapest 30-year on the market on the day you lock. We pull live wholesale pricing from a dozen desks and quote you the best one. If you’ve already got a competing quote, send it and we’ll either beat it or tell you why we can’t.

Sounds like me

What to bring

Devon’s intake list — most of this is faster than you think.

If you have these ready when you reach out, we can quote you the same day.

Two most recent W-2s
30 days of paystubs
Two years of federal tax returns (all schedules)
Two months of bank statements (checking + savings + brokerage)
Government-issued photo ID
Homeowners insurance quote if available
If self-employed: two years of Schedule C plus YTD P&L
If using a gift: signed gift letter + paper trail from donor

How it works

Five steps from quote to keys.

Same five-step process Devon runs on every file. Time per step varies; the order doesn’t.

01
Quote
Same-day rate & payment estimate from a soft credit pull or a self-reported score.
02
Pre-approval
Full credit, income, and asset verification through automated underwriting. 48 hours typical.
03
Lock
When you’re in contract or before, we lock the rate at the desk pricing the file cheapest that day.
04
Docs
Appraisal, title, HOI, conditions. Devon’s team manages everything — you just sign.
05
Close
Funding wires the day docs are signed. Keys in hand.

Devon publishes scenario rates weekly. They’re not teaser rates — they’re what a real borrower at 740 credit and 20% down can lock today. If a competitor’s quote is better, send it; Devon will tell you why or beat it.

FAQ

Conventional, answered.

Can I use a gift for the down payment?

Yes — from an eligible family donor. We need a signed gift letter, a paper trail showing the funds leaving the donor’s account, and proof of receipt into yours. On HomeReady you can use 100% gifted funds for the down payment.

Do you support HomeReady / Home Possible?

Both. HomeReady (Fannie) and Home Possible (Freddie) are 3%-down conventional programs with income limits. If your area median income qualifies you, PMI is typically cheaper than on a standard conventional. Devon runs both quotes for first-time buyers below the AMI cap.

What’s the PMI cost at 5% down?

PMI is priced off credit score and LTV. For a 740+ borrower at 5% down on a conventional, typical monthly PMI lands in the $90–$160 range per $100K of loan. It drops automatically at 78% LTV by amortization, or sooner if you request removal at 80%.

How is a broker different from my bank’s loan officer?

A bank LO sells one menu — theirs. A broker shops your file across a dozen wholesale desks and quotes the cheapest. Same file, different price. On the same conventional scenario, brokered pricing usually comes in 25–50bps under retail. Over 30 years that’s a six-figure difference.

Can I lock my rate before I’m in contract?

Usually yes — with a property address. Most lenders offer 60- and 90-day locks for borrowers actively shopping, often with a small lock-extension fee if you go past the window. If you’re a tight buyer in a competitive market, ask Devon about a float-down option.

Real rate. Same day.

Send your scenario over and Devon will quote you a real conventional rate — not a teaser — within one business day.

Get my rate

Conventional loans, brokered — so you actually shop the rate.

What conventional looks like, in numbers.

Three borrowers conventional was built for.

First-time buyer with 5% down

Move-up buyer rolling equity

High-credit, best-rate hunter

Devon’s intake list — most of this is faster than you think.

Five steps from quote to keys.

Conventional, answered.

Real rate. Same day.

Let’s find your loan.