Conventional
Loan
What is a Conventional Loan?
A conventional mortgage is a home loan that falls under the conforming loan limit of $726,000, and can be as high as $1,089,300 in high cost area, which is set annually by the Federal Housing Finance Agency. The interest rate is fixed and the loan term is typically 15 or 30 years.
A conventional rate mortgage loan:
Requires higher credit scores
Allows slightly smaller down payments
Has more liberal policy standards
Private Mortgage Insurance (PMI) is required for down payments below 20%
We will be here for you through it all to find your dream home as we guide you to a successful, speedy, and hassle-free closing.
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