Current conventional guidelines, updated from one source.
The block below is the conforming rulebook reduced to the figures that decide a file, read from Lendmire’s single guideline source and refreshed on this page when the agencies or the wholesale overlays change: the down payment by buyer, the credit floor, the mortgage insurance threshold and its cancellation points, and the ratio maximums.
First-time buyer; 5% standard; 97% loan-to-value at the top
The agencies set the floor at 3% down for a first-time buyer and 5% for a repeat buyer, on a principal residence; the whole down payment may be a gift from a relative on a one-unit home, and twenty percent down removes mortgage insurance from the payment entirely.
Priced on the score; no agency minimum with an automated approval
A 620 decision score opens the program on the wholesale side; the agencies set no minimum for an automated approval and 620 to 640 for manual underwriting by loan type. The strongest effect of the score is on cost, through loan-level adjustments and the mortgage insurance premium.
Required above 80% LTV; removed at 80% by request, 78% automatically
Private mortgage insurance applies above 80% loan-to-value, costs within a published range of 0.58%–1.86% a year depending on the score and the leverage, and ends: by request at 80% of the original value, automatically at 78%, and no later than the midpoint of the term.
With an automated approval; 36% to 45% on a manual file
Total debt against gross income, up to 50% on an automated approval and 36% to 45% on a manual file. The housing payment counted includes the mortgage insurance while it applies, which is why cancellation changes the ratio as well as the payment.
| Purpose | Occupancy and program | Maximum LTV |
|---|---|---|
| Purchase | One-unit principal residence, first-time buyer (fixed rate) | 97% |
| Purchase | One-unit principal residence, standard | 95% |
| Purchase | HomeReady / Home Possible (income limits apply) | 97% |
| Purchase | Two- to four-unit principal residence | 95% |
| Purchase | Second home | 90% |
| Purchase | Investment property, one unit | 85% |
| Purchase | Investment property, two to four units | 75% |
| Refinance | Limited cash-out (rate-and-term), one-unit principal residence | 95% |
| Refinance | Cash-out, one-unit principal residence | 80% |
| Refinance | Cash-out, two to four units, second home or investment | 75% |
| Combined LTV | Maximum contribution |
|---|---|
| above 90 percent | 3% of the sales price |
| 75.01 to 90 percent | 6% of the sales price |
| 75 percent or less | 9% of the sales price |
| investment property (any) | 2% of the sales price |
| Event | Waiting period |
|---|---|
| Chapter 7 or 11 bankruptcy | four years from discharge or dismissal (two years with documented extenuating circumstances) |
| Chapter 13 bankruptcy | two years from discharge; four years from dismissal (two with extenuating circumstances) |
| Multiple bankruptcy filings | five years when more than one filing within the past seven years |
| Foreclosure | seven years (three with extenuating circumstances, then limited to a principal residence or second home at 90 percent LTV, purchase or limited cash-out) |
| Deed-in-lieu, short sale or mortgage charge-off | four years (two with extenuating circumstances) |
Mortgage insurance: Fannie Mae reports that private mortgage insurance typically ranged from 0.58%–1.86% of the loan amount a year; the premium on a specific loan is priced by the insurer on the score, the leverage, and the coverage, and is never quoted here. Gifts from relatives may fund the entire down payment on a one-unit principal residence. HomeReady and Home Possible lend to 97% with income at or below 80% of the area median; HomeOne lends to the same leverage with a first-time buyer and no income limit.
Current conventional snapshot · updated October 1, 2026 · principal residences occupied within sixty days, second homes, and one- to four-unit investment properties · conforming limits apply by county and are confirmed by a Lendmire loan officer · above the limit, see the jumbo program · no prepayment penalty · Lendmire is a broker, never the lender.
This page describes program parameters, not an offer. The down payment minimums, the credit floor, the insurance thresholds, and the ratios are agency guidelines and lender overlays, subject to change without notice and to full underwriting; the appraisal, the credit report, the property, the occupancy, and the conforming limit decide every file. Lendmire is a broker, not a lender. Licensed in sixteen states for consumer mortgages. NMLS #2371349.
What a conventional loan is — and how the file is qualified.
Every Atlanta conventional file is read by an automated underwriting system against the agencies’ guides. The system does not change the rules below; it applies them: how much leverage the occupancy allows, how the score is read, when mortgage insurance attaches and ends, and what the ratios and reserves must show.
For the program overview, see Lendmire’s conventional loan program, or the statewide guide at Conventional Loans in Georgia; for the mortgage insurance cancellation rules, see the CFPB.
Leverage by occupancy and buyer
The agencies lend most on a home the borrower lives in and less as the occupancy changes: a one-unit principal residence reaches the top leverage, with the first-time buyer’s minimum the lowest down payment in the program; two- to four-unit homes, second homes, and investment properties step down from there, as the table in the snapshot shows for an Atlanta buyer.
Credit scores and automated underwriting
Conventional credit is priced more than it is gated. The agencies set no minimum score for a loan their automated system approves, the wholesale programs set a floor, and above the floor the score sets the loan-level price adjustments and the mortgage insurance premium. An Atlanta buyer with a stronger score pays less on both lines.
Mortgage insurance that cancels
Twenty percent down means no mortgage insurance at all, and anything less means insurance for a while. The calculator on this page shows the Atlanta payment with the estimated premium and the payment after it ends, along with the month on the amortization schedule when the request and automatic thresholds arrive.
Ratios, reserves, and the DU finding
Total debt-to-income is the ratio that counts: the full housing payment, insurance included, plus every monthly obligation, against gross income. Automated approvals reach the higher ceiling in the snapshot; manual files are held to the lower pair, with the higher of the two needing the matrix’s credit and reserve criteria.
A lender runs the same math on an Atlanta file with one difference: the insurer’s actual premium replaces the estimate. The estimate here starts at the low end of the published range and is editable, because the real figure depends on the score and the leverage.
Where Atlanta buyers borrow — and how a conforming loan fits.
Conventional loans are sized against a local market, and these are Atlanta’s numbers from the U.S. Census Bureau: how many households own, what a typical home is worth, and what households earn. Together they set the scale of a typical down payment, loan, and insurance premium.
Market context only. Income sets the ratio, value sets the loan and the premium, and the down payment sets the leverage. The Census describes the first two for the market; the file supplies all three for the borrower.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Atlanta neighborhoods, distinct conventional files.
The house and its use decide the file as much as the borrower. These Atlanta submarkets differ in the property types, the occupancies, and the prices a typical buyer carries, which is what the cards below describe.
Established close-in neighborhoods
The Atlanta blocks nearest the core carry the oldest houses, and a conventional appraisal reads them for value first and condition second: no HUD or VA property standard, but the home must be safe, sound, and marketable, and a failing roof or system still draws a condition note. Median household income in Atlanta sits near $85,652 on the latest Census estimate.
Investor and second-home purchases
An investor buying an Atlanta unit to rent uses the conventional program at the investment leverage, documents the rent the agencies allow, and shows reserves for every financed property; the agencies cap how many such loans one borrower may carry. Atlanta counts a population near 505K within the Atlanta-Sandy Springs-Roswell, GA area.
Condominiums and townhomes
An Atlanta condominium near the job is a conventional file with the project review added. Established projects usually pass; new or investor-heavy ones draw questions, and a project that fails goes to a portfolio lender on different terms. The median owner-occupied home value in Atlanta runs near $439,600 on the latest Census estimate.
Two-to-four-unit homes
Atlanta duplexes and small apartment houses are conventional purchases at the multi-unit leverage in the snapshot when the buyer occupies one unit, with rent from the other units counted toward qualifying under the agencies’ rules. About 54% of Atlanta’s households rent — roughly 126,676 renter households on the latest Census estimate.
Higher-value homes
The higher-value Atlanta file is a limit question, not an eligibility question. The conforming limit caps the loan amount, and the buyer either adds down payment to fit under it or chooses the jumbo route for the whole purchase. Roughly 109,792 Atlanta households own their homes on the latest Census estimate — 46% of all households, the pool a conventional purchase joins.
Newer infill and recent construction
A newer Atlanta home rarely draws condition notes; the file turns on the limit and the ratio at the higher price, with the insurance premium added to the payment where the leverage runs above the threshold. On a home at Atlanta’s median value, the first-time buyer’s minimum down payment comes to about $13,200 and the standard minimum to about $22,000 — before closing costs, and before the mortgage insurance that comes with either.
Each Atlanta submarket has its own property story, and the appraisal and the project review are where that story is told. The leverage limits, the cancellation rules, and the automated finding are the constants.
Four ways Atlanta buyers put a conforming loan to work.
A good use of a conventional loan is one its shape fits: a decent score, a down payment of any size from the minimum up, an occupancy the agencies allow, and a loan inside the conforming limit. Four common Atlanta uses follow.
Refinance or take cash out
Refinancing on a conventional loan follows the same leverage table as buying: rate-and-term to the higher limit, cash-out to the lower one. An Atlanta owner who has carried mortgage insurance may also use the refinance to leave it behind once the new loan sits at or below the threshold.
Buy a second home
For the Atlanta vacation or weekend home, the conforming loan is usually the only consumer route: FHA and VA finance principal residences only. The down payment is larger, the reserves are deeper, and the score prices the loan the same way it does on any conventional purchase.
Buy a condominium in a warrantable project
An Atlanta condominium is a conventional purchase when the project passes the agencies’ review: owner-occupancy mix, budget and reserves, litigation, commercial space, and ownership concentration. The dues enter the ratio, and the leverage follows the occupancy as it would on a house.
Buy a first home at the first-time-buyer minimum
For an Atlanta first purchase, the conventional route pairs the agencies’ lowest down payment with insurance that cancels and no upfront premium; the file is qualified on the score, the ratio, the reserves, and the automated finding, and a family gift may fund the whole down payment.
Estimate the payment on an Atlanta price before requesting a quote.
Before you ask for a quote, size the payment yourself: the Atlanta price, the down payment, the term, the benchmark rate, the insurance estimate, and the escrows go in, and the thresholds and the ratio ceiling come from the same guideline source as the block above. The result is an estimate, the rate is a published market average, and the insurance figure is an editable estimate inside Fannie Mae’s published range.
Atlanta conventional payment estimate
The starting figures are a typical Atlanta price at the first-time buyer’s minimum down payment. Replace them with yours.
Editable benchmark: 7.03% as of September 24, 2026 · Freddie Mac 30-year average via FRED®. A conventional market reference, not a conventional loan quote.
Estimate seeded at the low end of Fannie Mae’s published range (0.58%–1.86% a year); the insurer prices the actual premium on the score and the leverage. Applies only above 80% loan-to-value.
Illustrative starting assumptions: a $440,000 price near Atlanta’s median owner-occupied home value, the first-time buyer’s minimum down payment, a thirty-year term at the current Freddie Mac benchmark, mortgage insurance at the low end of Fannie Mae’s published range, property taxes and insurance estimated for Georgia (U.S. Census Bureau). Every field is editable.
Illustrative estimate only — not a Loan Estimate, approval, quote, or commitment to lend. The rate field carries the weekly Freddie Mac thirty-year conventional benchmark, a market reference and not a conventional loan quote; your rate is set by the lender at lock. The mortgage insurance figure is an editable estimate seeded from Fannie Mae’s published typical range, not a premium quote; the insurer prices the actual premium, and the cancellation month assumes scheduled payments with no extra principal and no change in value. Taxes, insurance and dues are editable estimates; closing costs are not included. Conforming loan limits apply by county. Licensed in sixteen states for consumer mortgages.
Same buyer, three very different closings.
Choosing among conventional, FHA, and VA in Atlanta is really choosing an insurance structure and a credit standard at the same time. Each is laid out below with the buyer it fits.
Conventional, FHA, or VA.
Conventional fits the Atlanta buyer with a solid score: the premium is smaller than FHA’s for strong credit and it ends, there is no upfront premium, and twenty percent down removes insurance altogether. A modest score or a thin file is where FHA competes.
Where conventional prices the score, FHA prices by schedule. FHA fits the buyer whose score would be priced heavily on a conventional loan, or who needs the ratio ladder’s room; it rarely wins for an Atlanta buyer with strong credit and a down payment above the minimum. See Lendmire’s FHA loan program.
VA beats conventional on the principal residence for nearly every eligible borrower; conventional beats VA on everything VA does not touch: second homes, rentals, and buyers without the certificate. The two often sit side by side in one Atlanta household. See Lendmire’s VA loan program.
Choose by profile: a strong score and any down payment point to conventional; a modest score and a small down payment point to FHA; eligibility with full entitlement points to VA. An Atlanta loan officer runs all three on the same numbers before recommending one. Above the conforming limit, see the jumbo loan program.
What to prepare for an Atlanta scenario review.
The paperwork is the standard mortgage set, with the automated finding deciding how much of it the file actually needs; here is what an Atlanta scenario review typically draws on.
This is a general preparation guide, not a universal checklist. The selected lender may request additional information based on the transaction, the property, the automated underwriting finding, and the income picture. Nothing here is legal or tax advice.
Local details that can change the loan.
The percentages tell only part of the story. What an Atlanta conventional loan actually becomes depends on the score, the appraisal, the project review, and the automated finding, and these are the details that move it.
Use these checks to keep the Atlanta file clean and fundable.
Before asking for a quote, know three answers: how much insurance the leverage carries and for how long, what the score does to the price, and whether the property and the loan amount fit the conforming program.
- Plan the insurance: it cancels on request at the request threshold and automatically at the termination threshold.
- Confirm the score: the score sets the loan-level adjustments and the insurance premium more than it gates the loan.
- Know the seasoning: documented extenuating circumstances can shorten several periods.
Mortgage insurance: how much, and until when
The premium on an Atlanta loan can be paid monthly, by the lender in exchange for a different price, as a single premium at closing, or split; the monthly structure cancels under the federal rules, and the others are priced by the lender. The calculator shows the monthly structure and the month the thresholds arrive on scheduled payments.
The score sets the cost
The decision score is read from the lender’s report, and with more than one borrower the automated system uses the average of the median scores. On an Atlanta conventional file the score rarely ends eligibility, but it sets the loan-level adjustments and the insurance premium, so a difference of a few points can change the monthly cost.
Waiting periods after a credit event
A documented hardship beyond the borrower’s control, such as a job loss or a medical event, can shorten several of the waiting periods, and the shortened foreclosure period limits the leverage and the occupancy. An Atlanta file inside a waiting period is written later, not now.
The conforming limit
Conforming loans are capped by county and by unit count, with higher limits in high-cost areas, and the figures are reset each year by the FHFA. An Atlanta purchase whose loan would run above the limit either brings a larger down payment to fit under it or moves to the jumbo program; a Lendmire loan officer confirms the current limit for the county.
The appraisal and value acceptance
Two outcomes matter on an Atlanta appraisal: the value, which caps the loan, and the condition, which the lender must find acceptable. A waiver or value acceptance, where the automated system offers one, removes both questions and the appraisal fee at once, and the file closes on the system’s valuation.
From an Atlanta pre-approval to keys in hand.
Four steps: the pre-approval, the appraisal, the underwriting, and the closing. The Atlanta version of each follows.
Pre-approval
The first conversation settles the shape: whether the buyer counts as a first-time buyer, what leverage the occupancy allows, how much insurance the down payment carries, and whether conventional is the right program next to FHA and VA for the Atlanta purchase.
Contract and appraisal
The appraisal is a valuation first and a condition report second on a conventional file; a short value re-sizes the loan, and the Atlanta contract is adjusted or released under its contingency. Where the system offers value acceptance, the step collapses to the system’s figure.
Underwriting
The underwriter verifies what the automated finding assumed: the income, the assets and reserves, the credit and any seasoning, the occupancy, and the property. A manual file follows the lower ratio pair instead. Conditions are issued, documented, and cleared before the approval is final.
Closing
The Atlanta closing applies the program’s structure: the insurance premium in the payment while it applies, the escrow account, and no upfront premium. The buyer moves in within sixty days on a principal residence, and the servicer tracks the balance toward the cancellation thresholds.
A brokerage that prices the whole market.
The case for a brokerage on a conventional loan is candor with numbers: the same file priced across programs, the insurance premium and its cancellation month stated outright, the leverage checked against the occupancy, and the terms in writing.
Several programs, one set of numbers
The comparison printed on this page is run for real on every Atlanta file: conventional with the insurer’s actual premium beside FHA with its premiums beside VA where eligibility exists, and the written terms follow from it.
The insurance explained before the offer
The insurance is the program’s cost and the cancellation rules are its advantage, and Lendmire explains both first rather than last: how much the premium is, which structure fits, and when it ends for an Atlanta buyer at the price in hand.
Licensed, consumer-purpose, in writing
What this page shows are the agencies’ parameters and the wholesale overlays; what a specific Atlanta loan gets is a written set of terms from a licensed loan officer after the review. Lendmire is a broker, never the lender.
Trusted by buyers & families alike.
Atlanta conventional loan FAQs
What a conventional loan is, how much it takes to buy, what score it needs, how the mortgage insurance works and ends, and how the conforming limit works, answered for Atlanta buyers.
What is a conventional loan, and who is it for?
A conventional loan is a mortgage written to the rules of Fannie Mae and Freddie Mac so the lender can sell it to them after closing; no government agency insures it, and a private insurer covers the top slice above the leverage threshold. It fits the Atlanta buyer with a solid score, any down payment from the program minimum up, and any occupancy the agencies allow, including second homes and rentals.
How much do I need to put down on a conventional loan in Atlanta?
The snapshot shows the minimums: one for the first-time buyer, one for everyone else, both on a principal residence. The calculator applies either to an Atlanta price, and the leverage table gives the figure for second homes and investment property.
What credit score do I need for a conventional loan?
The floor in the snapshot opens the program; the score above it sets the cost. With more than one borrower the automated system uses the average of the median scores, and an Atlanta buyer close to a cost tier may gain from a short wait and a paid-down balance.
How does private mortgage insurance work, and when does it end?
The premium is a percentage of the loan a year, divided into the monthly payment, and it is set by the insurer on the score and the leverage rather than by a government schedule. It cancels: by request at the request threshold, automatically at the termination threshold, and no later than the midpoint of the term.
What is the conforming loan limit in Atlanta?
Conforming limits are set each year by the FHFA, by county and by unit count, with higher limits in high-cost areas, which is why this page does not quote a figure. A Lendmire loan officer confirms the current limit for the county where you are buying; a loan above it needs a larger down payment to fit under the limit or moves to the jumbo program.
How does a conventional refinance work?
Rate-and-term to the higher limit, cash-out to the lower one, on a principal residence, second home, or rental at each occupancy’s leverage. An Atlanta owner carrying mortgage insurance may also refinance into a loan at or below the threshold and leave the insurance behind.
Can I buy a second home with a conventional loan?
Yes. The conventional loan is the consumer program that finances second homes: the leverage table shows the down payment for that occupancy, the buyer qualifies on the full payments of both homes, the finding sets the reserves, and the home must be for the owner’s own use rather than a full-time rental.
Can I buy a rental property with a conventional loan?
Yes. The rental purchase on a conforming loan is a common entry point for Atlanta landlords: one to four units, the investment down payment from the table, rental income counted as the agencies allow, and a limit on financed properties.
Can I get a conventional loan after a bankruptcy or foreclosure?
Each event has its own period counted from a specific date, and the lender confirms it from the documents. Clean credit since the event and a rebuilt score carry weight once the period has run.
Can I use a conventional loan to buy a condominium?
In a warrantable project. An Atlanta buyer under contract on a condominium should have the lender start the project review early, because a project that fails is outside the conforming program and goes to a portfolio lender on other terms.
Buy in Atlanta with a low down payment and insurance that ends.
Put your Atlanta figures into the calculator, then ask for a review. The leverage, the insurance structure, the cost tier, and the conforming limit are confirmed against the agencies’ rules, and a licensed loan officer provides the terms in writing.
This guide covers Atlanta — for the statewide guidelines, markets, and scenarios, see Conventional Loans in Georgia, part of Lendmire’s conventional loan program.
Nearby markets in Georgia: South Fulton · Macon · Columbus · Augusta · Savannah
Related programs: FHA Loans · Jumbo Loans · Refinance Loans