Baker
Conventional Loans
As little as 3% down, and mortgage insurance you can actually get rid of. If your credit is in decent shape, this is usually the loan that costs you less over time in Baker.
Why Conventional?
Benefits of a Conventional Loan
in Baker
Conventional means the loan follows Fannie Mae or Freddie Mac guidelines instead of a government insurance program. The trade is simple: stricter credit up front, cheaper mortgage insurance that goes away. Learn more on our Louisiana conventional loan overview page.
From 3% Down
First-time buyers can go as low as 3% down on a conventional loan, which is less than FHA's 3.5%. Most people are told the opposite.
PMI Comes Off
This is the whole argument. Conventional PMI drops at 20% equity, on request at 80% and automatically at 78%. FHA mortgage insurance stays for the life of the loan.
Better Rate With Better Credit
Conventional pricing rewards a strong score. At 740 and up you are usually beating FHA on both the rate and the mortgage insurance.
Investment & Second Homes
FHA, VA, and USDA are primary residence only. Conventional is the program that finances a rental or a camp, and it is how most Baker investors start.
Gift Funds Allowed
Your down payment can be a documented gift from family, same as FHA. On many first-time programs the entire down payment can come from the gift.
Higher Loan Amounts
Conventional conforming limits run well above FHA's in most parishes. The exact number changes every year, so ask me for the current one for your address.
Conventional Loans in Baker
What Is a Conventional Loan
and How Does It Work?
A conventional loan is not insured by a government program. It follows Fannie Mae and Freddie Mac guidelines, which is why the credit standards are firmer and the mortgage insurance is both cheaper and temporary for Baker buyers.
Baker is an affordable East Baton Rouge Parish community with strong first-time buyer demand. Proximity to Central and Zachary without the premium price points.
- 620 minimum score at most lenders, better pricing as the score climbs
- 3% down for first-time buyers, 5% for repeat buyers
- PMI required under 20% down, removable once you reach 20% equity
- No upfront mortgage insurance premium, unlike FHA's 1.75%
- Works for primary homes, second homes, and investment property
- We run conventional next to FHA on your numbers so you see both payments
How Conventional Compares in Baker
| Program | Down Payment | PMI / MIP | Min Credit |
|---|---|---|---|
| Conventional | 3% to 20% | Removable at 20% | 620 |
| VA Loan | $0 | None | No VA min |
| FHA Loan | 3.5% | MIP for life | 580 |
| USDA Loan | $0 | 0.35%/yr | 640 |
Conventional is the only one of these where the mortgage insurance ever goes away. That is usually the whole argument.
Not sure if Conventional is your best option?
We price conventional and FHA side by side on your real numbers. If FHA costs you less, that is what we tell you.
Compare My OptionsLocal Market
Baker Conventional Market
Baker is an affordable East Baton Rouge Parish community with strong first-time buyer demand. Proximity to Central and Zachary without the premium price points.
Baker offers East Baton Rouge Parish location at entry-level prices, one of the better values for first-time buyers in the Greater Baton Rouge metro.
Key areas: Baker proper, Zachary adjacent, Pride area
Baker Market Snapshot
Simple Process
Get a Baker Conventional Loan
in 3 Simple Steps
The real question on a conventional file is whether it beats FHA for you. We answer that first, with your numbers, before anything else happens.
Run Both Programs
A soft credit check, then we price conventional and FHA side by side. You see both payments and both mortgage insurance costs before anyone pulls hard credit.
Get Pre-Approved
We collect documents and issue a real pre-approval so your offer stands up in Baker. Sellers can tell the difference between this and a prequalification.
Appraisal & Close
We order the appraisal, keep underwriting moving, and walk you to closing. You hear from us whether there is news or not.
Watch & Learn
Watch: FHA vs. Conventional
The mortgage insurance difference, the down payment difference, and the credit score where conventional stops being the cheaper loan. Plain language, real numbers.
The Application
Apply From Your Phone In Fifteen Minutes
The whole application runs on your phone. Snap photos of your documents, connect your bank, and you're done. It reaches me the minute you submit it.
- Starts with a soft credit check, so your score is never touched
- We run conventional next to FHA so you see both payments
- Upload documents with your phone camera, no scanner needed
- You hear back from Channing, not from a call center queue
If the numbers say wait, I'll tell you that too, and then we make a plan to fix whatever is in the way.
Complete Your Application
Five short steps. Most people finish in about fifteen minutes.
- Tell us what you're looking for
- We price conventional and FHA
- Upload your documents
Your pre-approval letter is ready. I sent it to your email and to your agent.
Got your application. I'm reviewing it now and will call you this afternoon.
Already Own A Home?
Conventional Refinance Options In Baker
Conventional is where most refinances land, including refinances out of FHA. Here are the three that come up, and the one where I will tell you to wait.
Rate And Term
Lower the rate, shorten the term, or both. No cash out. The only question worth asking is the break-even: how many months of savings it takes to cover the cost. We run that before you pay for anything.
Compare Refinance OptionsCash-Out Refinance
Take equity out to 80% of value for renovations or to clear high-interest debt. Conventional cash-out usually prices better than FHA when your credit supports it.
See Cash-Out TermsDrop FHA Mortgage Insurance
If you have an FHA loan and 20% equity, refinancing to conventional kills the mortgage insurance for good. If rates have moved against you, that math can fail. We run it honestly and sometimes the answer is not right now.
See The FHA ComparisonReal Results
What Louisiana Buyers Say
About Working With Us
Louisiana buyers trust Mortgages by Channing to run the numbers both ways and recommend the one that costs them less. Read all Google Reviews →
It was a pleasure working with Channing and Monica! Very knowledgeable people!
Such an amazing personal and trustworthy to there core they were super attentive and walked us through the whole process and patient with all questions asked.
Channing and the team helped us with our first home purchase. They were very responsive and helpful. We were so happy with how fast and efficient every step was.
Highly recommend Channing and Monica to help you get the home of your dreams. They work hard to get you all the information quickly so that you can close the deal!
Channing and Monica were outstanding! On top of every detail, explained everything so wonderfully, super helpful and patient. They made things infinitely less stressful!
As scary as it is buying a home for the first time, the whole process was WAY easier than I ever thought it would be. Channing answered every question I had.
FHA or Conventional?
Let's Run Both.
A soft credit check and twenty minutes gets you both payments side by side. If FHA wins for you, I will tell you that.
Compare My Options →Conventional Loan FAQ
Common Conventional Questions
from Baker Buyers
Still Deciding?
Get A Straight Answer On Your Own Numbers
A soft credit check tells you where you stand. Nothing hits your report until you decide to move forward.
Service Area
Conventional Loans Across Louisiana
Mortgages by Channing helps buyers across all 64 Louisiana parishes compare conventional against every other program. Find your city, or visit our Louisiana conventional loan overview.
Real Closings
Real Clients.
Real Closings.
Real families we have helped get from pre-approval to keys in hand.
Start Your Baker Conventional Loan
Free quote, no credit pull to start. Channing Moore prices conventional and FHA together and tells you which one actually costs you less.
Compare My Options →