What is a Conventional Loan?
Conventional loans are not backed by a government agency unlike FHA and VA loans. However they usually do follow the Qualified Loans (QM) guidelines. Borrowers can usually choose from the most common 15 or 30 year loan programs. Some lenders will even offer any custom number of years ranging from 8 to 30 years. You will need to meet a Debt to Income ration of less than 50% and require a down payment from 3% depending on qualifications.
Which is Better FHA or Conventional?
Whether applying for the tradition 30-year or 15 year you are sure to have a mortgage that has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper.
We’re here to make the home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE 30-Year Fixed Rate Mortgage Qualifier.
We’ll help you clearly see differences between loan programs, allowing you to choose the right one for you whether you’re a first-time home buyer or a seasoned investor.
Our Conventional Fixed Rates Are Low !
Whether you’re buying your first home or looking for a new property, there’s lots of stress and complications involved in mortgages and financing. That’s where we come in. We help our clients with all their Credit Assessment needs so they can enjoy the fun and excitement of buying real estate knowing they’re in good hands.
Our Conventional Fixed Rate Process
Quick & Painless
Here’s how our home loan process works:
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Complete our simple 30-Year Fixed Rate Mortgage Qualifier
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Receive options based on your unique criteria and scenario
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Compare mortgage interest rates and terms
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Choose the offer that best fits your needs