A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate.
You need a home loan lender who understands your financial situation as much as they understand your personal goals. And that’s where we come in.
See if you meet these basic eligibility requirements:
Work with us whatever way works for you. Connect in person, online, or over the phone. Your home mortgage consultant will be by your side throughout the home-buying process.
Compare different types of new home and refinance mortgage loan programs and their features to help you decide which product is best for you.
Looking to buy a home with as little as 3.5% down and easy qualification and credit requirements? Learn more about FHA loans and apply today!
Discover the benefits of a VA loan including VA mortgage rate information. Government-backed VA loans require no down payment or PMI insurance. Apply today.
Introduced in March 2009, HARP enables borrowers with little or no equity to refinance into more affordable mortgages without new or additional mortgage insurance.
HomePath allows you to buy homes that have previously been repossessed by Fannie Mae. It allows you to get a home with as little as 5% down and have no mortgage insurance.
Jumbo loan mortgages are a great way to buy a luxury home . Jumbo mortgages can exceed the conforming loan limit. Learn more to see if this is the right option for you.
A conventional fixed-rate mortgage guarantees a fixed interest rate and payment over the life of the loan with terms ranging in average from 10 to 30 years.
There are six distinct phases of the mortgage loan process: pre-approval, house shopping; mortgage application; loan processing; underwriting and closing. Here’s what you need to know about each step.
Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.
Maximum age of applicant at loan maturity: 60 years
Minimum Net Monthly Income: Rs 15,000
Applicant should have the bank specified credit score.
Frequently Asked Questions and Answers To Your Loan Needs
A “conventional” mortgage is one that is not insured by the federal government. An FHA loan is insured by the government. FHA loans usually have lower down-payment requirements, when compared to conventional mortgages. This is one of the key differences between them. It also accounts for their popularity among first-time home buyers.
The FHA does not actually lend you the money. This is a common misconception. You would still get the money from a regular lender, as with a conventional loan. The difference is the insurance provided by the government. The Federal Housing Administration guarantees the loan, so the lender is covered if the borrower defaults on the loan. This reduces the lender’s risk. This is also why the down payment for an FHA loan is generally lower than a conventional mortgage.
Minimum FICO (Credit) score is 640 with up to 50% Maximum Debt to Income Ratio.
The Conventional loan is a fully-amortizing mortgage, with a term of 30 years with zero points.
Depending on the mortgage insurance company, some borrowers may be required to use their own funds towards the down payment. The minimum down payment may vary depending on the Mortgage Insurer. A HOC Participating Lender will determine the minimum down payment requirement for you.
Apply for a Southwest Florida Lending, LLC Loan online, All you need to do is provide your details below application form.
