Conventional Loan
Interest rates for conventional loans are usually the lowest available.
CONVENTIONAL LOANS ARE NOT INSURED BY THE FHA OR VA. GENERALLY, THESE ARE A GOOD OPTION FOR HOMEBUYERS WITH HIGHER CREDIT SCORES AND STABLE EMPLOYMENT HISTORIES.
FEATURES AND BENEFITS
✔ Fixed Rate Options: Terms range from 10-30 years
✔ Adjustable Rate Mortgage (ARM) Programs: 3/1, 5/1, 7/1 and 10/1 ARMS along with a 5/5 ARM option
✔ You may use a conventional loan to finance a property in a high-cost area
✔ A variety of loan terms are available – you’re not limited to 15- and 30-year terms
✔ Down payments as low as 3% depending on your loan amount
