Loan Options
Conventional Loans
Get Conventional
Conventional mortgage are a great choice for many homeowners because they offer lower costs than some other popular loan types. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types. With a variety of options and with excellent advantages for qualified borrowers, a conventional mortgage might be right for you.
Need Down Payment Options? Here Are A Few Conventional Low Down Payment Options:
Fannie Mae HomeReady
HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing for first-time homebuyers and 95% financing options for non-first time homebuyers.
Freddie Mac Home Possible & Home Possible Advantage
Designed for low-to-moderate income homebuyers and/or individuals purchasing or refinancing properties in target areas. Maximum financing (LTV/CLTV) and minimum credit score requirements are determined based on the loan product type. Private Mortgage Insurance (PMI) is required on conventional loans with an LTV > 80%.
- A range of down payment options
- Advantages for higher down payments
- Option to eliminate mortgage insurance with a 20% down payment
- Financing for properties commonly restricted by gove
- Second home mortgage options available
- Adjustable rate mortgages
Conventional loans generally offer lower costs than other loan types, and if you meet credit score requirements and have a down payment of at least 3%, a conventional mortgage might be the best solution for you. Contact us to help you decide if this is the best fit for your situation.
Get Started on Your Journey Home
Knowledge Base
Get Your Cash Back
Paying cash for a home has benefits. Take advantage of being a cash buyer to give the seller confidence the transaction will close quickly and …
Refinance & Renovate
If you are having a difficult time finding a new home with limited inventory in today’s market, have you considered renovating your current home? We …
6 Tips for Saving For Your Down Payment
Before you can make the transition from renting your home to owning your home, you will need to have a down payment, typically 3 to …
Credit Tips for First Time Homebuyers
When applying for a mortgage loan, your credit will be one of the key factors in whether you’re approved, and it will help determine your …
Have You Heard? Refinance and Remove FHA Mortgage Insurance
Refinancing your FHA loan to a conventional mortgage may clear room in your monthly budget, especially with interest rates hovering at historic lows. Removing FHA …
Homebuyer Tips
Our goal is to make your home buying experience as seamless as possible. We have highlighted some key guidelines to help keep your finances in …
Appraisal Methods
When you’re buying a home using a mortgage, refinancing your existing mortgage or selling your home to anyone other than an all-cash buyer, the home …
To Do After Closing
After you finish signing at the closing of your new home, you’re handed the keys and the house is officially yours! But, there are some …
Why Use a Local/Regional Mortgage Lender?
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Homeowners Insurance
Homeowners insurance or home insurance is typically required for anyone who takes out a mortgage to buy a home. Prior to closing on a mortgage, …
Tax Deduction Documents For A Home Mortgage
When you buy a home, there may be tax deduction benefits. These include possible mortgage interest and points you paid to receive a lower interest …
5 Important Questions When Choosing Your First Home
Buying your own home can be exciting and frightening at the same time. George Mason Mortgage suggests considering the following questions when choosing your first …
2021 – The Year For The Home Buyer And Seller
By: David H Stevens, CMB In my almost forty years in the real estate and mortgage finance business, there have been a variety of cycles …
David H. Stevens Named New Advisor to the George Mason Mortgage Board of Directors
David H. Stevens, CMB, (Dave) is a 36 year veteran of the Mortgage Banking industry. Dave served as the President and CEO of the Mortgage …
What to Expect From a Biden Regime
David H Stevens, CMB is the CEO of Mountain Lake Consulting, Inc and an advisor to George Mason Mortgage. David was the CEO of the …
The Federal Reserve, the Housing Market, and Mortgage Rates
The housing economy is one of the remarkable stories we will remember about the COVID experience in the USA. In March when the nation shut …
FHFA Announces Conforming Loan Limits for 2021
Fannie Mae and Freddie Mac Baseline Limit Will Increase to $548,250 Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan …
Moving Checklist
We looked everywhere and found what we think is the most comprehensive moving planner from moving.com. Their moving planner is set to begin prior to …
Ellie Mae Announces 2017 Hall of Fame Award Finalists
Winners will be announced at the Ellie Mae Experience 2017 user conference PLEASANTON, Calif. – January 10, 2017 – Ellie Mae® (NYSE: ELLI), a leading provider of innovative …
Response to the Coronavirus from George Mason Mortgage
At George Mason Mortgage, the health and safety of our employees, customers and communities we serve are our top priority. As we continue to monitor …
George Mason Mortgage, We’re Here For You
The COVID-19 (also known as “coronavirus”) situation has quickly changed our daily lives. George Mason Mortgage recognizes our entire country is dealing with constant uncertainty …
Your First Step: Budget & Affordability
One of the first steps to get started on this exciting journey is planning ahead. Here are some tips to determine how much home you …
Homebuyer Options
Low Down Payment Programs & Grants George Mason Mortgage has the program options to fit your story and our experienced mortgage professionals will help find …
The Lowdown on Down Payments & Mortgage Insurance
The 20% Down Payment Myth Many first time home buyers believe they must put 20 percent down on a home. But that is far from …