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Conventional Loans

Why go for the conventional?

Conventional loans are the most common loan in the market today.

Conventional loans work best when you have more than 10% equity or down payment, and you have higher credit scores.  They can also be used for a greater variety of property types and loan purposes.

If you have less than 20% equity, you are required to have mortgage insurance, however, depending on the loan-to-value and your credit scores, the mortgage insurance can be very inexpensive. If you have at least 20% equity or are making a 20% down payment, then Conventional home loans are hard to beat.

features of a conventional loan

  • Down Payment options as low as 3% with an additional 2% Grant from lender; for 1% Down Payment out of pocket
  • Gift funds allowed for Down Payment and Closing Costs
  • Very Attractive to Sellers
  • Seller concessions allowed

Ready to talk?

We’re available 7 days a week. Give us a call at (636) 861-3279.