CONVENTIAL LOANS
Conventional conforming loans are not made by a government entity, like FHA and VA loans, but instead, follow the guidelines set forth by Fannie Mae and Freddie Mac. These established guidelines usually call for a minimum credit score, certain income requirements, and a minimum down payment.

It is a myth that you need 20 percent down payment for a conventional loan. There are conventional loan programs that require as little as 3 percent down. Private mortgage insurance, or PMI, is required for any conventional loan with less than a 20% down payment. PMI is an insurance policy that protects the lender against loss resulting from default on a mortgage loan.
Conventional home mortgage loans have either fixed or adjustable rates. A fixed-rate mortgage means that your monthly mortgage payment remains the same for the life of the loan, and typically has a term of 15 or 30 years. A shorter-term loan can often denote a lower interest rate. An adjustable-rate mortgage, or ARM, fluctuates in relation to a market index. The monthly payments on ARM can increase or decrease accordingly.
Contact us to discuss if a conventional loan is right for you.
CHECK YOUR TRUE CREDIT SCORE
A credit score assists in measuring your
ability to repay a debt in the future.
CALCULATE YOUR MORTGAGE PAYMENT
Want to know how much home you can afford? Try our mortgage calculator.