Is a Conventional loan right for you?
Get a FREE quote on a Conventional loan and find out how much you qualify for.
- 1-4 family properties and Fannie Mae approved condominiums.
- Loan amounts up to $417,000. ($625,000 in higher market areas)
- Rates are determined by an evaluation of risk, ensuring the best rate available.
- Flexible mortgage insurance options are available, including a non-monthly payment option.
- You can put as little as 3% down on a purchase.
- Loan product that doesn’t conform to Fannie or Freddie guidelines.
- Higher loan balances.
Benefits of a Conventional loan:
- Conventional loans do not charge the additional fees VA and FHA loans do, and usually require a standard 5% down payment. However, with 20% down no MI is necessary.
- Higher qualifications like better credit scores give you access to better interest rates.
- Conventional loans are custom to you in relation to amortization (the number of years needed to pay the loan back). This includes a 15, 20, or 30 year fixed rate term.