Conventional Purchase & Refinance · Move-Up Buyers
Run Your Conventional Numbers in Seconds — No Credit Pull
Conventional loans for borrowers with solid credit. Estimate your payment below, see exactly when conventional beats FHA, then get your real numbers from a local lender — no commitment, no credit pull.
Payment estimator
Ballpark your monthly payment in 30 seconds, right on this page.
Drop mortgage insurance
PMI cancels near 20% equity — unlike FHA's lifelong MIP.
Direct LO contact
Work directly with Dirk — owner, president, and active loan officer.
Move-up purchases
We know the timing of selling one home while buying the next.
30+
Years closing loans in the CSRA
NMLS# 148371
License
GRMA# 5819
State authority
Equal Housing Lender
Required disclosures honored
Payment estimator
Estimate your monthly payment
Move the numbers to see a ballpark. No credit pull, nothing saved.
Estimated monthly
$2,178
Loan amount
$280,000
Principal & interest
$1,770
Est. taxes
$292
Est. insurance
$117
Est. PMI
$0
Estimate only — not a rate quote, loan offer, or commitment to lend. Taxes, insurance, and PMI are rough assumptions and vary by property. Your actual rate and APR depend on credit, property, loan terms, and market conditions. First Choice Mortgage · NMLS# 148371 · Equal Housing Lender.
Conventional vs. FHA
When conventional is the smarter call.
FHA is great for lower credit and small down payments. But if any of these sound like you, conventional often costs less over time:
- ✓You can put 20% down and skip mortgage insurance entirely
- ✓You want mortgage insurance that cancels around 20% equity — not for the life of the loan
- ✓You have strong credit (typically 680+) and want the best long-term cost
- ✓You're a move-up buyer juggling selling one home while buying the next
- ✓You're buying a second home or an investment property
Not sure which fits? See the full FHA comparison →
Work directly with your loan officer
You'll talk to someone in Augusta — not a call center.
First Choice has run as an independent Augusta lender and broker since 1992. On a conventional loan you work directly with Dirk Merritt — owner, president, and an active loan officer — and the local team. Real underwriting decisions, made by people who answer the phone.
Dirk Merritt
Owner & President · Loan Officer
Common questions
Conventional, answered straight.
What credit score do I need for a conventional loan?+
Conventional financing typically starts around 620, and the strongest pricing usually shows up at 680 and above. The higher your score, the better your rate and mortgage-insurance cost. We'll tell you honestly where your score puts you before any credit pull.
How is PMI different from FHA's MIP?+
Conventional private mortgage insurance (PMI) applies when you put down less than 20%, and it cancels once you reach roughly 20% equity. That's a key advantage over FHA's MIP, which usually stays for the life of the loan.
Do I really need 20% down?+
No. Conventional loans are available with as little as 3–5% down for many buyers, including programs aimed at first-time and moderate-income buyers. Putting 20% down simply lets you avoid PMI — we'll show you both paths side by side.
Can I use a conventional loan to refinance?+
Yes — rate-and-term or cash-out. If you started in an FHA loan, refinancing into a conventional loan is the most common way to drop mortgage insurance once you have enough equity. Ask us to model the breakeven.
Payment figures on this page are estimates for illustration only and are not a rate quote, loan offer, or commitment to lend. Actual rate and APR depend on credit, property, loan terms, and market conditions. All loans subject to credit approval. First Choice Mortgage · NMLS# 148371 · Georgia Residential Mortgage Licensee GRMA# 5819 · Equal Housing Lender.