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%.

Benefits of Conventional Qualifying

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.