Conventional Home Loans 

A conventional mortgage is a home loan that is NOT backed by a government agency like FHA or VA. They often meet the down payment and income requirements set by Fannie Mae & Freddie Mac. They have stricter guidelines to qualify than compared to government-issued loans. 

Benefits of a Conventional Loan: 

Convention Loans are one of the best loan programs for a borrower with a high credit score.  By a borrower having a higher credit score they receive additional benefits like no mortgage insurance, lower down payments, and more competitive pricing.  

  • Competitive pricing

  • No prepayment penalty ever

  • No mortgage insurance option

  • Up to 45% debt to income ratio

  • Allows for 3% seller paid closing costs