CONVENTIONAL PURCHASE LOANS

Are you looking to settle into a community or start a family? Whatever your long- or short-term goals are, we're here to educate you on how a conventional loan can help you meet them.

Conventional loans come in various options and with excellent advantages for qualified borrowers with a 620 or higher FICO score.

Are you a first-time homebuyer?

Here Are A Few Conventional Low Down Payment Options

Fannie Mae HomeReady

  • HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate-income borrowers
  • Program requires 3% minimum down payment For first-time home buyers
  • This program has income limits you will want to discuss in detail with our team

Freddie Mac Home Possible

  • Designed for low-to-moderate income homebuyers and/or individuals purchasing or refinancing properties in target areas
  • Maximum financing and minimum credit score requirements are determined based on the loan product type
  • Private Mortgage Insurance (PMI) is required on conventional loans with a loan-to-value less than 80%
A couple talking to a man in a black suit

Rewards of Conventional Qualifying

  • A range of down payment options
  • Advantages for higher down payments
  • Private Mortgage Insurance (PMI) is eliminated with a 20% down payment
  • For down payments that are lower than 20%, PMI can be eliminated after 20% of the home's equity has been reached

Learn more about HomeReady® and Home Possible resources.

Disclaimers: This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Credit and collateral are subject to approval. Equal Housing Lender.