Conventional Loan Highlights

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This product is backed by non-government sponsored lenders and thus there are generally less restrictions, guidelines, and fees associated with these programs.  Additionally these loans will have higher income and credit score requirements.

What can I use the loan for?

For the purchase, refinancei, or renovation of any primary, secondary (lake/vacation home), or investment/rental property. This can be used for single family homes, duplexes, four-plexes, and double-wide manufactured homes.

Benefits

  • IDEAL FOR BORROWERS WITH HIGHER CREDIT SCORES AND A DOWNPAYMENT (3%)
  • Lower closing costs and fees
  • Less guidelines and restrictions
  • No private mortgage insurance (PMI) options available
  • More immediate equity in your home
  • No prepayment penalties
  • Have the ability to finance the construction or the purchase and home improvements/renovations in one loan  

Low Downpayment Options

There is a misconception that it takes a 20% downpayment but depending on income and credit score restrictions the downpayment options can get as low as 3%-5% down.

Fixed or low adjustable rates available

No maximum on acreage