Apply Now
Apply Now

HOME

I

Conventional Loan Overview

Conventional Loan Overview

A Conventional loan refers to any loan that is not insured or guaranteed by the federal government, as opposed to government-insured home loans including FHA loans, VA loans, and USDA loans.

Get Started

Conventional Loan

What is a Conventional Loan?

A conventional loan is a type of mortgage that isn’t backed by a government agency like FHA or VA. Instead, it’s funded by private lenders and follows guidelines set by organizations like Fannie Mae and Freddie Mac. Borrowers typically need good credit, and they have options for various down payments and loan terms. Conventional loans offer flexibility for purchasing primary residences, second homes, and investment properties.

Benefits

Features and Benefits of Conventional Loans:

Loan term flexibility (10 to 30 years).

Various down payment options, including as low as 1%

Suitable for different property types, from primary residences to investment properties.

Eligibility Criteria

  • Minimum credit score requirement (usually around 620 or higher).
  • Demonstrating stable income and employment history.
  • Maintaining an acceptable debt-to-income ratio.
  • Down payment considerations.

Why Choose a Conventional Loan?

  • Flexibility and competitive interest rates.
  • Options for both short and long-term repayment plans.

Experts

Work with Our Foundation Mortgage Experts

Multiple loan options

The best possible rates available on the market

Contact Form

Get Started with Foundation Mortgage

Legal and Consumer Information
NMLS# 1387311, AL #23266, AR #1387311, FL #MBR5867, GA #1387311, KY #MB852528, NC #B-214180, SC #1387311, TN #125388

WHAT WE DO

ABOUT

CONTACT

Facebook-f Twitter Instagram Youtube Linkedin-in Apple

Copyright © 2024 Foundation Mortgage | All Rights Reserved

Call Us