Conventional Loans

Conventional loans are prevalent and highly utilized in the mortgage industry. They are often the perfect financing solution for many homebuyers.

What Kind Of Homebuyers Are Best Suited For A Conventional Loan?

Here are some of the critical characteristics of a Conventional loan mortgagee.

  • Higher credit score.
  • Currently has a lower debt to income ratio.
  • Can make a down payment of at least 3% or more.
  • Can prove stable income.

What Are The Advantages Of Conventional Loans?

Here are some of the critical characteristics of a Conventional loan mortgagee.

  • Can put down as little as 3% of the purchase price.
  • Private mortgage insurance (PMI) can be avoided by putting down 20%.
  • Conventional loan interest rates are typically better than comparable government-backed loans.
  • Flexibility – Can be used to purchase a primary or secondary residence.
  • Both fixed rate & adjustable rate terms are available for the life of the loan.
  • Can be used to refinance an existing loan or a new home purchase.

What Is A Conventional Conforming Loan?

A Conventional Conforming loan is typically a loan that is at or under the maximum county loan limit of the property. They are called conforming because they adhere to the guidelines set forth by Fannie Mae and Freddie Mac.

Is A Conventional Loan Right For Me?

For clients who meet the requirements of a Conventional loan, this type of home financing arrangement might be well suited to them. Because everyone’s financial circumstances are different, finding the right kind of mortgage for you is critical. Better Lending is happy to walk you through this crucial step of buying a home.

Contact us today to learn more about why so many homeowners have trusted us to be their lender of choice.

This offer is made by Better Lending who is not an agency of the federal government, nor affiliated with your current lender. The loan information used in connection with this offer was derived from the credit bureaus (Experian, Trans Union and Equifax). This is not a commitment to make a loan.

*This is not a guaranteed offer, but an advertisement to lend. To qualify you will need to provide criteria including an acceptable property appraisal, and sufficient property collateral, as well as verification of personal income, sufficient credit history and clean property title. Not all programs are applicable to all borrowers and rates are subject to change at any time based on market conditions and borrower eligibility. This is not a commitment to lend. Nothing herein shall be construed as an offer to lend nor a commitment to lend, the above statements are examples of possible scenarios.

** Better Lending is not a government agency or affiliated with a government agency.

***All above interest rate scenarios assume a rate and term of refinance single family detached, owner-occupied residence with, credit score above 740, $300,000 loan amount, Loan-to-value ratio of 75 percent or less. $1495.00 for processing and underwriting fees, two discount points as of notice date, and the establishment of an escrow account. All the above rates and savings estimated are examples consistent with the prior description.

ⁱ Interest rate and payment scenario listed contains closing costs

⁺ Up to $500 credit applied as a lender credit towards appraisal at time of closing


Contact Us Today

Contact us today to learn more about why so many homeowners have trusted us to be their lender of choice for Conventional loans.

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