Current conventional guidelines, updated from one source.
Treat these as the program’s fixed points rather than an offer: the minimum down payment for a first-time buyer and for everyone else, the credit floor behind these pages, the leverage at which mortgage insurance begins and the points at which it ends, and the ratio an automated approval allows.
First-time buyer; 5% standard; 97% loan-to-value at the top
3% down is the first-time buyer’s entry point and 5% the standard one, both on a one-unit principal residence; second homes, two- to four-unit homes, and investment properties carry their own leverage limits, listed in the table below.
Priced on the score; no agency minimum with an automated approval
The wholesale programs behind these pages start at a 620 decision score. The agencies themselves set no minimum for an automated approval and ask for 620 on a manually underwritten fixed-rate loan and 640 on an adjustable; the score prices the loan and the insurance more than it gates them.
Required above 80% LTV; removed at 80% by request, 78% automatically
Above 80% loan-to-value the loan carries private mortgage insurance; at or below it, none. The insurance cancels on request at 80% of the original value and automatically at 78%, which is the single largest structural difference from FHA, whose premium at full leverage lasts for the term.
With an automated approval; 36% to 45% on a manual file
Lenders compare total debt against gross income, with limits 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 3, 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.
Program guidelines only, not an offer of credit. The leverage, credit floor, mortgage insurance thresholds, ratio maximums, contribution caps, and waiting periods on this page are agency parameters and lender overlays subject to change without notice and to full underwriting of the borrower and the property. Mortgage insurance premiums are priced by the insurer and are not quoted here. 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.
The difference between a conventional loan and a government loan is who stands behind it. No agency insures a conforming loan; a private insurer covers the top slice above the threshold, and the agencies buy the loan on their rules. That structure explains each of the four pieces below for a Dunwoody buyer.
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 down payment a Dunwoody buyer needs depends on three things: whether the home is a principal residence, a second home, or a rental; whether it is one unit or several; and whether the buyer counts as a first-time buyer. The snapshot table gives the answer for every combination the program allows.
Credit scores and automated underwriting
The automated system reads the score and the credit events together, and a derogatory event does not end eligibility; it starts a clock. Bankruptcies, foreclosures, short sales, and deed-in-lieu transfers each carry a waiting period in the agencies’ guides, shortened by documented extenuating circumstances, and the snapshot shows each one for a Dunwoody buyer.
Mortgage insurance that cancels
Insurance structures vary: borrower-paid monthly is the default, and lender-paid, single-premium, and split-premium versions exist, each built into the loan differently. The published typical range in the snapshot is Fannie Mae’s, and the actual premium for a Dunwoody file comes from the insurer at lock, never from this page.
Ratios, reserves, and the DU finding
Three things decide what payment a Dunwoody income carries: the ratio ceiling for the underwriting path, the reserves the finding requires, and the stability of the income over two years. Enter income in the calculator to see the ratio on a local price before asking for a quote.
None of this is a decision. The appraisal can come in under the price, the rate is set at lock, the premium is set by the insurer, and the automated finding sets the reserves. What stays fixed is the structure the calculator reproduces: price, down payment, leverage, insurance, payment.
Where Dunwoody buyers borrow — and how a conforming loan fits.
The leverage limits are percentages; the market turns them into dollars. The Census figures below describe Dunwoody’s ownership, home values, and household income, the backdrop every conforming loan here is sized against.
Citywide figures provide general market context, not an appraisal or an income calculation. Read the figures as ranges, not predictions. The lender appraises one home, documents one income, and lets the automated system read one credit file.
Data sources: U.S. Census Bureau — ACS 5-Year (2024) housing and population estimates, including tenure, home values, gross rents, and household income.
Distinct Dunwoody neighborhoods, distinct conventional files.
A Dunwoody condominium, a decades-old family house, and a second home are three different conventional files: different project reviews, different leverage, different reserves. The six submarkets below show the range.
Two-to-four-unit homes
Dunwoody 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 44% of Dunwoody’s households rent — roughly 9,291 renter households on the latest Census estimate.
Established close-in neighborhoods
An older Dunwoody house is a routine conventional purchase; the appraisal is lighter on condition than a government appraisal, which is one reason buyers of older homes often choose this program. The value against the contract price is the usual question. Dunwoody is home to about 52K people and sits within the Atlanta-Sandy Springs-Roswell, GA area.
Condominiums and townhomes
A Dunwoody condominium in an established project 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 Dunwoody runs near $602,900 on the latest Census estimate.
Investor and second-home purchases
A second home in Dunwoody, occupied part of the year and never run as a rental business, is a conventional file at the second-home leverage with deeper reserves and part of the down payment from the buyer’s own funds. Roughly 11,934 Dunwoody households own their homes on the latest Census estimate — 56% of all households, the pool a conventional purchase joins.
Newer infill and recent construction
A newer Dunwoody 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 one-unit principal residence at Dunwoody’s median value, the first-time buyer’s minimum down payment comes to about $18,100 and the standard minimum to about $30,100 — before closing costs, and before the mortgage insurance that comes with either; a second home, a multi-unit home, or a rental starts higher, as the leverage table shows.
Higher-value homes
On Dunwoody’s higher-value homes, a conventional loan hits the conforming limit first. Buyers over it can bring a larger down payment to fit under it, use the high-balance range where the county has one, or choose the jumbo program. A loan officer confirms the current limit before the offer. Median household income in Dunwoody sits near $121,903 on the latest Census estimate.
Each Dunwoody 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 Dunwoody buyers put a conforming loan to work.
Dunwoody borrowers use conforming loans for reasons that repeat, from the first purchase at the first-time-buyer minimum to the refinance on a home with equity, and the cards below take up the ones that come up most often.
Buy a condominium in a warrantable project
Condominiums are a common first purchase in Dunwoody, and a warrantable project is financed like a house with the dues in the ratio; a project that fails the review is outside the conforming program and goes to a portfolio lender instead.
Buy a second home
For the Dunwoody 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 an investment property
The rental purchase is inside the conventional program at a lower leverage than a principal residence: a Dunwoody buyer uses the agencies’ rules for counting rental income, shows reserves for every property financed, and accepts loan-level adjustments that reflect the occupancy.
Refinance or take cash out
A Dunwoody owner can refinance a conventional loan two ways: a limited cash-out refinance to the rate-and-term leverage in the snapshot, or a cash-out refinance to the lower cash-out leverage after the seasoning period, on a principal residence, second home, or rental at each occupancy’s own limit.
Estimate the payment on a Dunwoody price before requesting a quote.
Enter a Dunwoody price, the down payment, and the buyer type, choose a term, and the calculator returns the loan and its loan-to-value, principal and interest, the estimated mortgage insurance while the loan is above the threshold, taxes and insurance, the payment after the insurance ends, and the ratio if you enter income. It also shows the month the balance reaches the cancellation thresholds. The rate field holds the weekly Freddie Mac benchmark as a market reference, never a quote.
Dunwoody conventional payment estimate
The starting figures are a Dunwoody price at the first-time buyer’s minimum down payment. Replace them with yours.
Editable benchmark: 7.28% as of October 1, 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 $605,000 price near Dunwoody’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.
The score, the down payment available, VA eligibility, and the expected length of the loan decide which program wins. Here are the three, one next to the other.
Conventional, FHA, or VA.
The program’s strengths are the cancellable insurance, the breadth of occupancies, and a cost structure that rewards a strong score; its weakness is the same structure applied to a weak one. A Dunwoody buyer with a strong score usually pays less each month here than on FHA.
FHA’s leverage is high and its credit standard is forgiving, but its insurance is priced by schedule rather than by score and does not cancel on a full-leverage thirty-year loan. A Dunwoody buyer comparing the two sees the premium line stay on FHA and disappear on conventional. See Lendmire’s FHA loan program.
A Dunwoody buyer with VA eligibility and full entitlement rarely needs a conventional loan for a principal residence: nothing down, no insurance, and residual-income underwriting. Conventional is the route for that same veteran’s second home or investment property, which VA does not finance. 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. A Dunwoody 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 a Dunwoody scenario review.
What a lender reads on a Dunwoody conventional loan, and what you can have ready before anyone asks.
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.
When a Dunwoody conventional file surprises someone, the cause is usually one of these: a premium higher than expected, a score that priced differently than hoped, an appraisal under the price, a project that failed review, or a loan amount over the conforming limit.
Use these checks to keep the Dunwoody file clean and fundable.
Three things to settle before a Dunwoody review: how the mortgage insurance will be structured and when it ends, where the decision score lands and what it prices, and whether the property has any agency question attached.
- Plan the insurance: the premium is priced on the score and the leverage inside the published range.
- Confirm the score: a self-pulled score can differ from the decision score.
- Check the project: the lender reviews the questionnaire, budget, and insurance before the appraisal.
Mortgage insurance: how much, and until when
The premium on a Dunwoody loan can be paid monthly, paid by the lender in exchange for a different price, paid as a single premium at closing, or split. The monthly structure cancels under the federal rules, and the others are set 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 comes from the lender’s report, and with multiple borrowers the automated system uses the average of the median scores. On a Dunwoody conventional file the score rarely ends eligibility, but it sets the loan-level adjustments and insurance premium, so a few points can change monthly cost.
Warrantable or not
A Dunwoody condo is a conventional purchase when the project passes agency review: owner-occupancy mix, budget and reserves, litigation, commercial space, single-entity ownership, and insurance. One that fails is non-warrantable and outside the conforming program; a portfolio lender may still lend on other terms.
The appraisal and value acceptance
Two outcomes matter on a Dunwoody 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.
Second homes, rentals, and financed-property limits
A Dunwoody household can hold several conventional loans at once, but each financed property adds reserves to the next file and the agencies cap the number of financed properties a borrower may have. Second homes and rentals are leveraged lower than a principal residence and priced for the occupancy.
From a Dunwoody pre-approval to keys in hand.
Four steps: the pre-approval, the appraisal, the underwriting, and the closing. The Dunwoody version of each follows.
Pre-approval
A Dunwoody pre-approval is a sizing exercise run through the automated system: the score, the income, the assets, the occupancy, and the price. The finding sets the ratio room and the reserves, and the loan officer puts the pre-approval in writing for the offer.
Contract and appraisal
With the contract signed, the lender orders the appraisal, or accepts the value the automated system offers where a waiver applies. Seller contributions are checked against the cap for the leverage, and a condominium’s project documents are collected for review before the file moves on.
Underwriting
Underwriting on a Dunwoody conventional file verifies the finding: the documents behind income and assets, the source of the down payment, the project review, and the insurance commitment for the leverage. Conditions are cleared and the approval is issued with its terms.
Closing
Closing is where the structure becomes a payment: principal and interest, the insurance while the loan is above the threshold, taxes and insurance. The Dunwoody buyer takes the keys, and the lender delivers the loan to the agency it was written for.
A brokerage that prices the whole market.
Lendmire is a mortgage brokerage licensed for consumer lending in sixteen states, and on a conventional loan that buys three things: the file priced across several wholesale programs rather than one, the insurance structure and its exit explained before an offer is written, and the terms in writing from a licensed loan officer.
Several programs, one set of numbers
The comparison printed on this page is run for real on every Dunwoody 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 premium and its exit are decided by the leverage and the score, and a buyer should know both before signing a contract. Lendmire states the structure for the Dunwoody purchase, shows the payment before and after cancellation, and explains the request and automatic thresholds.
Licensed, consumer-purpose, in writing
What this page shows are the agencies’ parameters and the wholesale overlays; what a specific Dunwoody 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.
Dunwoody conventional loan FAQs
Plain answers to the questions Dunwoody buyers ask most about conventional loans, in the order they usually ask them.
What is a conventional loan, and who is it for?
The general-purpose mortgage: conforming to the agencies’ guides, priced on the credit score, insured privately only while the leverage is above the threshold. It is the program most Dunwoody buyers compare first and, of the three compared here, the one that reaches a second home or an investment property.
How much do I need to put down on a conventional loan in Dunwoody?
The first-time buyer’s minimum down payment is in the snapshot on this page, for a one-unit principal residence with a fixed rate. A first-time buyer is anyone without an ownership interest in a home during the prior three years. Everyone else pays the standard minimum. Second homes, multi-unit homes, and investment property need more, as the leverage table shows. A relative’s gift may fund the whole down payment on a one-unit principal residence.
What credit score do I need for a conventional loan?
The practical answer is the floor in the snapshot, and the useful answer is that every tier above it lowers the cost. A Dunwoody buyer with a modest score should run FHA beside conventional, because FHA prices its insurance by schedule rather than by score.
How does private mortgage insurance work, and when does it end?
Mortgage insurance applies when the loan runs above the leverage threshold in the snapshot and is paid monthly as part of the payment. The premium is priced by the insurer on the score and the leverage, inside the published range the snapshot shows. Under the Homeowners Protection Act the borrower may request cancellation at the request threshold on the original value, the servicer must terminate it automatically at the termination threshold, and it ends no later than the midpoint of the term.
What is the conforming loan limit in Dunwoody?
The limit is the first thing confirmed on a Dunwoody file near the top of the market. These pages state the program’s structure rather than a number that changes every year; the current figure comes from a loan officer.
Can the down payment be a gift?
It can, from an acceptable donor, for all of it on a one-unit principal residence; the donor must be a relative or similar, the letter must state no repayment is expected, and the transfer must be documented. Gifts may also fund closing costs and reserves.
Can the seller pay my closing costs on a conventional loan?
They can, and the cap depends on the leverage: more room at lower leverage, less at higher. That is how many Dunwoody conventional purchases close with cash to close near the down payment alone.
Can I take cash out with a conventional refinance?
A conventional cash-out refinance replaces the first mortgage with a larger loan at the cash-out leverage and hands over the difference. A Dunwoody owner with a low-balance first mortgage usually compares a second lien first.
What happens after my Dunwoody offer is accepted?
Your Dunwoody contract goes to the lender, the appraisal is ordered or waived, and underwriting follows. The usual detours are a value under the price or a condition on an older home; a loan officer keeps the timeline honest.
Should I choose a conventional loan or FHA?
Conventional tends to fit the buyer with a strong score, because its insurance cancels and carries no upfront premium; FHA tends to fit the buyer with a modest score, because its ratios stretch further. The answer for a Dunwoody buyer comes from the numbers, not the label.
Conventional, FHA, or VA for Dunwoody: compared on your numbers.
Begin with a scenario review: the price, the down payment, the score, the income, and the occupancy. A licensed Lendmire loan officer prices the file across the wholesale programs, runs it beside FHA and VA, and puts the terms in writing.
This guide covers Dunwoody — for the statewide guidelines, markets, and scenarios, see Conventional Loans in Georgia, part of Lendmire’s conventional loan program.
Nearby markets in Georgia: Sandy Springs · Brookhaven · Roswell · Johns Creek · Alpharetta · Smyrna · Marietta · Atlanta
Related programs: FHA Loans · Jumbo Loans · Refinance Loans