Conventional Mortgage Loan

Conventional mortgages are probably the most popular loan of all and are used to purchase or refinance single family houses, 2-4 family houses, condominiums, planned unit developments and vacation homes.

A conventional mortgage is a fixed-rate loan in which the monthly principal and interest payments remain the same throughout the life of the loan. Generally they are available in 10 to 30 year terms, with 15 and 30 year terms being the most common.

Conventional Mortgage Loan Highlights:

• Monthly payments are fixed over the life of the loan
• Interest rate does not change
• Protected if rates go up
• Can refinance if rates go down

A conventional mortgage loan is not insured or guaranteed by the federal government, and minimum down payments are generally 5%, but it is possible to do less. Loans with 20% down payments don't require the additional expense of mortgage insurance. They usually adhere to Fannie Mae/Freddie Mac approval guidelines. A mortgage with a 20% down payment does not require PMI.

Request conventional mortgage loan information by clicking the button below and filling out the form, and you will acquire your own personal loan and mortgage consultant to help get you started with the mortgage process and more fully explain why a conventional mortgage might be a good option for you.

Need more information on a Conventional Mortgage Loan?

Contact one of our conventional mortgage loan professionals at 1-800-743-9233 or click here for more information.

You will acquire your own personal conventional mortgage loan consultant to help get you started with the mortgage process and more fully explain why a conventional mortgage loan might be a good option for you.

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