Whether you’re purchasing a home or ready to refinance your existing home loan, Conventional Loans are the most common type of mortgage among borrowers.
Conventional Loans are also known as “conforming mortgages” because they conform to guidelines established by large institutional investors - Fannie Mae and Freddie Mac, allowing mortgages to be more widely available.
Conventional Loans are home loans for up to $548,250 and in order to qualify for a Conventional Loan, you typically have to meet a down payment requirement (those amounts can vary), demonstrate that you have good but not perfect credit, that you’re employed, and that your monthly income is sufficient to meet your other monthly debt obligations such as car loans, student loans, and credit cards.
Fixed Rate: available for loan terms of either 10, 15, 20, or 30 years.
Adjustable Rate Mortgage (ARM): interest rates that remain the same for either 1, 3, 5, 7 or 10 years, and then adjust each year thereafter.
Learn more about the different types of mortgage rate options.
Since 1951, we’ve helped people save hundreds, or even thousands of dollars a month, when they purchase or refinance their mortgage with Nutter.
Call 1-800-875-7334, send us an email or chat with us online and our team of non-commissioned Loan Officers will answer all your questions.
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