Let’s get you settled into a home with a lower interest rate and more flexibility.
Benefits of a Conventional Loan
Conventional mortgages typically have a slightly higher down payment than government-insured loans; however, one of the benefits of a conventional loan is that it provides more flexibility with fewer restrictions.
If you have good credit and stable income, a conventional loan might be the right option for you.
- Lower interest rates for individuals with good credit.
- Minimum down payment of 3%.
- Flexible mortgage insurance options.
- Fewer penalties and fees.
- Flexible loan terms.
Our Conventional Loan programs
Adjustable-Rate Mortgage (ARM)
If you’re expecting to only stay in your home for a few years or if the current rate on a fixed-rate mortgage is too high an ARN might be the best option for you. This loan term comes with flexible interest rates that can change after the initial fixed-rate period. The increased and decreases are based on the current market.
If you’re planning on staying in one location for a long time this loan will give you the comfort of stability. A fixed-rate mortgage will protect you against rising rates. You can select anywhere from a 10-year to a 30-year term mortgage. However, lower term options typically have higher monthly payments, which also means you can quickly build home equity.
If you have a low debt-to-income ratio along with a higher credit score, but lack in the amount of funding needed to bring the loan amount under the conforming limit. A jumbo loan or a non-conforming mortgage can allow you the ability to purchase a more expensive home even when the loan amount exceeds the conforming limit set by the Federal Housing Finance Agency.