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Conventional Loans

Conventional Loans

A type of mortgage in which the underlying terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac. About 35-50% of mortgages, depending on market conditions and consumer trends, are conventional mortgages. In other words, Fannie Mae and Freddie Mac guarantee or purchase 35-50% of all mortgages. Conventional mortgages may be fixed-rate or adjustable-rate mortgages. These loans are only advantage to borrowers with outstanding credit scores and low debt to income ratios.

Features & Benefits

  • Maximum Loan Amount is $417,000
  • 3% Minimum Down Payment
  • Mortage Insurance options include monthly, upfront mortgage insurance or lender paid

Conventional High Balance

Features & Benefits

  • Maximum Loan Amount can go as high as $729,750