CONVENTIONAL LOAN OPTIONS — LOWER RATES WITH MORE FLEXIBILITY
A Conventional loan refers to any loan that is not insured or guaranteed by the federal government, as opposed to government-insured home loans including FHA loans, VA loans, and USDA loans. Conventional mortgage loans (conforming or non-conforming) typically have a slightly higher down payment requirement than government loans; however, the Conventional loan option normally provides more flexibility and fewer restrictions.
What is a Conventional Loan?
If you have good credit and stable income, a conventional loan might be the right option for you, since conventional loan programs traditionally offer:
- Lower interest rates for borrowers with good or great credit
- Flexible mortgage insurance options, if applicable (mortgage insurance not always necessary)
- Fewer penalties and fees
- Flexible loan terms
- Down payments range from 3% – 20%
Not Quite Ready?
Get more information about Conventional Loans by filling out the short form below