home sweet loan
Whether you’re purchasing a new home or refinancing your current home, a conventional mortgage is a great solution to accommodate your needs as it conforms to the guidelines established for the size of your loan while considering your financial situation.
Features of a conventional mortgage:
- Fixed rate
- Maximum loan amount of $647,200
- Terms available up to 30 years
- Up to 95% LTV (loan to value) with mortgage insurance for 1 unit primary residence
- 97% financing available for 1 unit primary residence loans that meet certain parameters and credit criteria
- Follow standard agency (Fannie Mae and Freddie Mac) underwriting requirements
Property types available to finance with a conventional mortgage:
Primary residences, second homes and investment properties
- Single family homes
- 1-4 Family properties
- Condominiums
- Modular homes
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