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WHY CHOOSE A CONVENTIONAL LOAN?

  • You can use a conventional loan to buy a primary residence, second home, or rental property
  • Conventional loans are available in fixed rates, adjustable rates (ARMs), and offer many loan terms usually from 10 to 30 years
  • Down payments as low as 3%
  • No monthly mortgage insurance with a down payment of at least 20%
  • Lower mortgage insurance costs than FHA
  • Mortgage insurance is cancelable when home equity reaches 20%

POPULAR LOAN TERMS FOR CONVENTIONAL HOME BUYERS

  • 30 year fixed rate
  • 15 year fixed rate