Conventional Home Loans in Madison, WI
The most versatile mortgage product available — conventional loans offer flexible down payment options, competitive rates, and automatic PMI cancellation. If you have solid credit and a stable income, a conventional loan may be your most cost-effective path to homeownership.
What Is a Conventional Loan?
A conventional loan is a mortgage not insured or guaranteed by a federal government agency. These loans conform to guidelines set by Fannie Mae and Freddie Mac, making them the most common mortgage type in America. They offer a wide range of terms (10–30 years), fixed or adjustable rates, and down payment options from 3% to 100%. They can be used for primary residences, second homes, and investment properties.
At MadCity Home Loans, Rob Miller helps borrowers across Wisconsin — from first-time buyers in Madison to move-up buyers in Middleton, Sun Prairie, and Verona — find the conventional loan that best fits their situation.
Conventional Loan Benefits
PMI Cancels Automatically
Unlike FHA MIP, conventional PMI disappears once you hit 20% equity — you're not locked into it for the life of the loan.
Investment & Second Homes
Finance rental properties, vacation homes, and second homes — programs FHA and VA don't permit.
Higher Loan Limits
Borrow up to $832,750 in most Wisconsin counties with standard conforming terms.
Flexible Terms
Choose from 10, 15, 20, or 30-year fixed terms, or adjustable-rate mortgages (ARMs) for lower initial payments.
Low Down Payment Options
First-time buyers can put as little as 3% down through HomeReady and Home Possible programs.
Faster Appraisal Process
Conventional appraisals are often faster and less stringent than FHA or VA appraisals, speeding up closing.
Your Conventional Loan Roadmap
Get Pre-Approved
Complete your pre-approval with a 620+ credit score to establish your budget and buying power.
Review Loan Options
Choose between fixed or adjustable rate terms (10-30 years) and down payments starting at 3%.
Find Your Home
Shop with your realtor. Conventional loans are highly respected by sellers and support vacation homes or investment properties.
Appraisal & Processing
Rob Miller's team orders a property appraisal and processes your income, asset, and employment documentation.
Clear to Close
Underwriting verifies all conditions, preparing your final closing disclosure and settlement package.
Closing Day
Sign your loan documents, pay your down payment and closing costs, and receive the keys to your new home!
Conventional vs. FHA? Rob Miller can run a full side-by-side comparison — total monthly cost, break-even point, and long-term savings — so you can make the most informed decision.
Get a Side-by-Side Comparison