Conventional Loans

Types of Conventional Loans

A conventional loan is a mortgage loan that follows the lending rules set by Federal Home Loan Mortgage Corporation (Freddie Mac) and Federal National Mortgage Association (Fannie Mae) and is not backed by any government agency.

Conventional loans that follow Fannie Mae and Freddie Mac guidelines are called conforming. These types of loans have loan limits. Conventional mortgages usually have the best loan terms and the best interest rates which result in a lower monthly payment.

Conventional Purchase

There is a variety of options to purchase a house with a conventional loan. You can avoid paying mortgage insurance if you put down 20%.

• First Time Home Buyer
• Second Time Home Buyer
• Vacation Home Loans
• Investment Loans

Conventional Refinance

You may refinance into a conventional loan from other types of loans. This way you will be able to secure better terms and lower your monthly interest rate. Refinancing into a conventional loan can reduce your monthly payment by removing mortgage insurance.

• Lower Your Payments
• Cash-Out Refinance
• Pay off Your Loan Faster
• ARM to Fixed Refinance