Straight talk on mortgages from a loan officer who's done it for 10+ years.
You've probably heard some version of this: "conventional loans don't have a minimum credit score anymore." As of late 2025, that's actually true at the agency level, Fannie Mae's Desktop Underwriter and Freddie Mac's Loan Product Advisor both dropped their long-standing 620 floor for automated approvals. It sounds like great news for anyone with a lower score.
If you bought your home with less than 20% down on a conventional loan, you're almost certainly paying private mortgage insurance — PMI. The good news is that unlike FHA mortgage insurance, conventional PMI is temporary. With the right approach, you can get rid of it and lower your monthly payment, sometimes much sooner than you'd expect.
One of the most common questions I get from buyers considering an FHA loan is some version of: "How much extra am I actually paying for mortgage insurance?" It's a fair question — and the honest answer is more than most people realize when they're just looking at the rate.
One of the most common questions I get from buyers considering an FHA loan is some version of: "How long do I have to pay mortgage insurance?" It's a fair question — and the honest answer is one that catches a lot of buyers off guard.
If you're buying a home with less than 20% down on a conventional loan, your lender is going to require private mortgage insurance — PMI. It shows up on your monthly statement, adds to your payment, and a lot of buyers don't fully understand what it is, why it exists, or how to get rid of it.
Credit score has a much larger impact on mortgage pricing than most buyers realize.
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