Conventional Mortgage Loan

Conventional mortgage loans are advantageous to borrowers with outstanding credit scores and little debt.

A conventional mortgage loan is a type of mortgage in which the underlying terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac. About 35-50% of mortgages, depending on market conditions and consumer trends, are conventional mortgages. In other words, Fannie Mae and Freddie Mac guarantee or purchase 35-50% of all mortgages. Conventional mortgages may be fixed-rate or adjustable-rate mortgages. Conventional mortgage loans are typically only advantage to borrowers with outstanding credit scores and low debt to income ratios.

Conventional Mortgage Loans Features & Benefits

  • Loan amounts up to $417,000
  • 3% Minimum Down Payment
  • Mortage Insurance options include monthly, upfront mortgage insurance or lender paid

Conventional High Balance Mortgage Loan

  • Maximum Loan Amount can go as high as $625,500

Contact a loan officer to get started!