Conventional Loans
HELPING DREAMS BECOME REALITY
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Why Should I
Refinance My Loan?
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What is a Home
Equity Loan?
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What is a Home
Equity Loan?
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Conventional Loans
Conventional loans often require a higher down payment compared to FHA loans, usually around 5% to 20% of the purchase price. The credit requirements for conventional loans are typically stricter, with lenders looking for a credit score of at least 620 or higher.
However, borrowers with excellent credit may be able to secure a lower interest rate and better terms on a conventional loan. Conventional loans can be used to purchase a variety of property types, including single-family homes, multi-unit properties, and condominiums.
Conventional Loan Summary
1) Conventional loans are not backed by the government and are subject to the lender's guidelines and underwriting standards.
2) Typically require a higher down payment of 5% to 20% of the purchase price
3) Credit requirements are typically stricter than FHA loans, with lenders typically looking for a credit score of at least 620
4) Borrowers with excellent credit may be able to secure lower interest rates and better terms on a conventional loan compared to an FHA loan..
Conventional Loans Summary
5) Conventional loans offer options for fixed or adjustable interest rates
6) Conventional loans do not require mortgage insurance if the borrower puts down at least 20% of the purchase price
7) Conventional loans do not require mortgage insurance if the borrower puts down at least 20% of the purchase price
8) Conventional loans offer options for refinancing, including cash-out refinancing and rate-and-term refinancing, which can help borrowers lower their monthly mortgage payments or access equity in their home.
Custom home loans designed to help you reach your goals,
with real people who guide you every step of the way,
for the life of your home loan.
“We believe that a well planned mortgage leads to long term wealth.”
- From a Very Wise Man
What customers are saying about us
Andrew went above and beyond. I’d 100% recommend him. He was always ready to answer any questions my wife and I had and was always quick to respond.
Dave Tatter
Andrew and his team were extremely helpful to us during our home search and buy. Andrew went above and beyond to be flexible with providing us with the mortgage that best served our needs. We would highly recommend Andrew.
Mark Reightneour
Andrew went above and beyond. I’d 100% recommend him. He was always ready to answer any questions my wife and I had and was always quick to respond.
Dave Tatter
Mortgage - 101
HELPING DREAMS BECOME REALITY
