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Conventional Loans

Conventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options, as little as 1-3%. Some programs even include up to $525 credit on appraisal fees. 

1% Down with Equity Boost

​Here’s how it works: Your borrower puts down 1%, the lender contributes 2% toward the down payment, up to $5,000, giving you 3% equity at closing. It’s a great way to keep your down payment low at a competitive rate and a good head start.

KEY FEATURES

• Minimum 720 FICO
• Available with no monthly Mortgage Insurance
• Close in 30 days or less