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.
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Knowledge Base
Why Slowing Home Price Appreciation Is Good For Buyers And Sellers
Many forecasters are calling for slower home price appreciation (HPA) and that is a very good thing. As Core Logic reported recently, home prices rose …
Home Inspections
Home inspections give you the opportunity to have the home thoroughly examined by a professional before you spend any money to purchase it. Paying for …
10 Homebuying Terms Everyone Should Know
Buying a home is exciting, but it’s easy to get overwhelmed if you’re not familiar with the homebuying vocabulary. One of the best things you …
What Is Commonly Negotiated When Buying A Home?
With homebuying, everything is negotiable, from repairs and closing costs to furniture and appliances. Offers and counteroffers can negotiate on a mix of these factors. …
7 Ways to Stand Out as a Potential Homebuyer
With rates near all-time lows, the housing market is buzzing with potential buyers! Low rates mean more affordable payments or more home for your money, …
Virginia Housing Update
Virginia Housing (formerly referred to as VHDA) offers affordable loan programs for Virginians. With the update of Income and Sales Prices in addition to an …
5 Tips for Making an Offer on a Home
In today’s market, it’s important to make a competitive offer once you’ve found the right home. You’ll want to stand out from other interested buyers and …
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 …
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 …
9 Tips for Purchasing Your First Home
Beginning the home buying process can be a very exciting, yet nerve-wracking experience for anyone starting off. These tips will help answer some questions to …
Home Improvement Projects with the Best ROI
Whether you’ve purchased a fixer-upper or are thinking about selling your home in the near future, it’s important to determine which renovations or upgrades can add value to your property.
A Robust Housing Market For Years To Come
Two questions continue to be asked of me. The first is, should I worry about rising prices and wait for the market to slow? The …
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 …
Moving Checklist
Take the stress out of moving with this checklist. Here is a list of essential tasks as well as the ideal times to conduct them. …
ICE Mortgage Technology Case Study
In an effort to improve the mortgage lending experience, Fannie Mae and Freddie Mae required significant changes to the Uniform Residential Loan Application (URLA) used …
Refinancing 101
Rates have hit an all-time low and have left homeowners scrambling to refinance their mortgages. You have most likely heard in casual conversations with friends …
Your Journey Home
Knowing the path will travel together helps the journey go more smoothly. We have outlined some important highlights so you know what to expect along …
Homebuyer Tips
Our goal is to make your home buying experience as smooth as possible. We have highlighted some best practices to help keep your finances in …
Getting Started
Whether you are buying your first home, right-sizing now that the kids are gone, navigating the jumbo luxury market, renovating your home, or working with …
Choosing The Right Down Payment
A down payment is the amount you pay toward the home yourself. You put a percentage of the home’s value down and borrow the rest …
Built Just For You
NEW CONSTRUCTION, CUSTOM HOME & RENOVATION HOME LOANS Our extensive knowledge of the new construction and renovation loan market allows us to offer a wide …
Finding The Right Mortgage
There are many different types of home loans available. The one that’s best for you will depend on your personal financial situation and homeownership goals. …
Know Your Credit Score
When applying for a mortgage loan, your credit score will be one of the key factors in whether you’re approved and it will help determine …
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 …