By Steven Hyde, Founder, Hyde Funding · NMLS #391380. Reviewed 2027-01-12. Hyde Funding is a mortgage lender headquartered in San Diego, lending nationwide since 2015.
Short answer: A conventional loan is a mortgage that isn’t government-insured, usually sold to Fannie Mae or Freddie Mac. Qualifying first-time buyers can put 3% down on a 1-unit fixed-rate home. Private mortgage insurance applies below 20% down but can be canceled at 80% LTV, and 2026 limits are $832,750 to $1,249,125 for one unit.
| Occupancy | Purchase / rate-term | Cash-out |
|---|---|---|
| Primary, 1 unit | 97% FRM (first-time buyer) / 95% ARM | 80% |
| Primary, 2–4 units | 95% | 75% |
| Second home, 1 unit | 90% | 75% |
| Investment, 1 unit | 85% purchase / 75% rate-term | 75% |
| Investment, 2–4 units | 75% | 70% |
Below 20% down, PMI applies. You can request cancellation at 80% of original value and it ends automatically at 78% (CFPB). See PMI guide.
Hyde Funding welcomes every credit profile. If your credit needs significant work, we can refer you to a trusted credit repair partner.
See 2026 conforming limits.
As little as 3% for qualifying first-time buyers on a 1-unit fixed-rate loan, otherwise typically 5%.
Yes. You can request it at 80% of original value, and it ends automatically at 78% if you are current.
$832,750 in most counties and up to $1,249,125 in high-cost areas for one unit.
Talk to Steven: (858) 775-1005 · Free VA consultation · Apply now
Steven Hyde, NMLS #391380. Equal Housing Opportunity. Hyde Funding is not a government agency and is not affiliated with the VA. This is general information, not a loan commitment; terms depend on credit, income, property, and lender approval.