Conventional Home Loans

Program Overview

The main difference between a conventional loan and other types of mortgages is that a conventional loan is not made or insured by a government entity.  Instead, conventional loans are a type of mortgage in which the underlying terms and conditions meet the funding criteria of Fannie Mae (FNMA) and Freddie Mac (FHLMC).

Today, about 35-50% of all mortgages, depending on market conditions and consumer trends, are conventional mortgages.

Conventional home loans are ideal for borrowers with strong credit worthiness and strong financial resources to meet the down payment and credit requirements.  One major misconception is that in order to qualify for conventional financing you had to have a credit score in 700′s and a down payment of 20% to avoid costly mortgage insurance.

However, that is not completely accurate as I am able to offer conventional loans for credit scores over 680 and a minimum down payment of 5% with the option to eliminate monthly mortgage insurance!  This is an excellent program and only offered by a few lenders nationwide.

Prospective home buyers can opt for both fixed-rate and adjustable-rate terms.  The most popular conventional home loan option is the 30-year fixed rate, but an adjustable-rate mortgage may be more advantageous in the event you plan on relocating or upsizing within the next 10-years.

Additional Features & Benefits

  • Ability to waive your escrow requirement for property taxes and home owners insurance (some restrictions apply)
  • Option to buy down your interest rate below the current market rate
  • Down payment can be gifted (some restrictions apply)
  • More lenient property condition requirements
  • Lower overall closing costs when compared to certain government backed programs

Have Additional Questions?

If you have additional questions about getting mortgage help, we are available 24/7 to answer any questions you have about the Conventional Loan program. Give us a call at (920) 623-4902.

We can will help you understand your options, design a plan to suit your individual situation and prepare your application.


Get Pre-Approved Today!