WHAT DO
conventional loans HAVE FOR YOU?
Conventional
Loans
Conventional loans are mortgage loans that are not offered or secured by a government entity. They are available through or guaranteed by a private lender or the two government-sponsored enterprises—Fannie Mae and Freddie Mac.
While conventional loans do not share some of the same benefits as government-backed mortgages, they are one of the most common types of loans offered to homebuyers today.
WHAT DO
conventional loans HAVE FOR YOU?
A common misconception with conventional loans is that you need 20% down to purchase. While it’s not required, and we do offer options to put as little as 3% down, it is recommended to put as much down as you can so you can avoid needing PMI (Private Mortgage Insurance) entirely or shorten the length of time you would need PMI on your loan. You’ll want to check out our First-Time Home Buyer programs for additional options.
Conventional loans for second homes or investment properties typically require higher down payments than those needed for primary home purchases. Down payment requirements can range from 10-25% depending on the type of investment. Check out our additional investment loan options with our Commercial Capital Division.