A Conventional Home Loan Built Around Your Next Home.
Conventional financing for a primary residence, a second home, or an investment property, with fixed and adjustable options up to conforming loan limits.*
Quick answer
Saxton Mortgage does. At least one conventional program we offer finances a one- to four-unit primary residence, a one-unit second home, or a one- to four-unit investment property, starting at a 580 credit score when the file is run through Fannie Mae’s automated system. Fixed-rate and adjustable-rate options are both available.
What a conforming loan asks of you
Most of these are Fannie Mae rules, and a few come from programs we offer.
- 2026 conforming limit of $832,750 for a one-unit home*
- Four-unit properties financed up to $1,601,750 at the baseline*
- Student loan payoffs through a cash-out refinance are eligible*
- DACA recipients eligible with a valid Employment Authorization Document*
- Non-occupant borrowers permitted on purchases and both refinance types
- Fannie Mae sets no minimum original loan amount
Four ways to pay mortgage insurance
Delayed financing after a cash purchase
Living trusts can hold the title
Second homes stay at one unit
Fiancés and mentors can give gifts
Existing mortgages must be current
What is the Saxton Conventional Loan?
The most common home loan, backed by Fannie Mae and Freddie Mac
The Saxton Conventional Loan is a full-featured mortgage that follows Fannie Mae and Freddie Mac guidelines, the go-to option for most buyers and homeowners.
A manually underwritten loan needs at least a 620 credit score on a fixed rate and 640 on an ARM. Its debt-to-income ratio starts at 36% and can stretch to 45% when your score and reserves meet Fannie Mae’s matrix. At one program, manual underwriting is open only to a primary residence*.
Mortgage insurance can be paid monthly, once a year, as a single premium at closing, or split between a closing payment and monthly premiums. Fannie Mae also accepts lender-purchased coverage on every loan type except an ARM that can convert to a fixed rate. Learn more about second home and investment property.
Why choose the Saxton Conventional Loan?
Built for qualified buyers whose standard documentation doesn’t tell the whole story.
DU Sets No Score Floor
Fannie Mae sets no minimum credit score when Desktop Underwriter approves the file and weighs your full risk profile instead. Add mortgage insurance, though, and one program asks for a 600 score*.
Debt Ratios Up To 50%
Fannie Mae caps total debt-to-income at 50% when DU approves the loan. Files that are manually underwritten work within tighter limits. Learn more about condos.
Divorce Buyouts Leave Your DTI
If a co-owner buys out your share and the lender does not release you from the mortgage, Fannie Mae lets that payment drop from your debts once the title transfer is documented.
Other Rentals Raise Reserves
Own other financed properties? Fannie Mae adds reserves equal to 2% of their combined balances for one to four of them, 4% for five or six, and 6% for seven to ten.
Ten Financed Homes Maximum
Buying a second home or rental? One program allows up to ten financed properties*. When the purchase is your own residence, that program sets no cap on the count.
Occupant DTI Caps At 43%
When a manually underwritten loan uses a co-signer or non-occupant borrower’s income, Fannie Mae still caps the DTI at 43% using only the income of the people who will live there.
Hear From Homeowners Like You
Frequently Asked Questions
Answers on conforming limits, credit, waiting periods, gifts and appraisals for a conventional loan.
Saxton Mortgage does. At least one conventional program we offer finances a one- to four-unit primary residence, a one-unit second home, or a one- to four-unit investment property, starting at a 580 credit score when the file is run through Fannie Mae’s automated system. Fixed-rate and adjustable-rate options are both available.
In the 48 contiguous states, the 2026 limit is $832,750 for a one-unit home. Two units go up to $1,066,250, three units to $1,288,800 and four units to $1,601,750. If your loan is larger, we look at high-balance or jumbo options instead.
Fannie Mae bars gift funds when the conventional loan is for an investment property. For a primary home or second home, an acceptable donor’s gift may pay toward the down payment, the closing costs or your reserves, within the minimum contribution rules. A gift of equity can never count as reserves.
Fannie Mae requires four years after a Chapter 7 discharge or dismissal and seven years after a foreclosure is completed. A discharged Chapter 13 needs two years. Documented extenuating circumstances can shorten the Chapter 7 wait to two years.
Yes, within limits. One program lets DU approve a file with one frozen credit bureau*. If a freeze has to be lifted, you must unfreeze all bureaus and the file is run through DU again with the updated credit.
Yes. One program accepts it when the job starts no more than 90 days after the note date*. It applies only to buying a one-unit primary residence, qualified on fixed base income, and the employer cannot be a relative. You also document six months of reserves for the new housing payment or enough to bridge the gap.
Sometimes. DU can offer an appraisal waiver, but at one program a waiver is not accepted on a home in a disaster area within the last 12 months*. Leasehold properties, community land trust homes and other resale-restricted homes are excluded there too.
Yes. One program treats a home with a C6 condition rating or a Q6 quality rating as ineligible*. A C5 home can work only if the deficiencies behind that rating are fixed before closing. Learn more about cash-out refinancing.
Find out what you qualify for
Begin with a pre-qualification so we can test your file against these agency rules ahead of any offer.
Get Pre-Qualified- Consumer Financial Protection Bureau, buying a house: tools and resources for homebuyers
- Consumer Financial Protection Bureau, mortgages
*Loan amounts, rates, terms, and down payment requirements are subject to credit approval, income and asset verification, and program eligibility. Loan limits follow the annual conforming limits set by county. Down payment and cash-out limits vary by occupancy, credit score, and documentation type. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.