Conventional Loans

Conventional loans are those not insured or guaranteed by the Federal Government. They fall into two categories: Conforming, which are loans equal to or under $726,200, and non-conforming, which are loans above $726,200. Be aware that in certain parts of the country, the loan limit is higher than $726,200. Please contact a loan officer to find out if your area qualifies for the higher loan limit.

This type of loan can be attractive for many reasons. Some of these include:

• Down payment as low as 3%
• Opportunity to cancel existing mortgage insurance at 80% LTV
• Can be used to finance property types up to 4-units
• Many more loan program options available such as:
• Fixed Rate Loans (10-year, 15-year, 20-year, 30-year)
• Adjustable Rate Loans (ARMs)
• Hybrid Loans (ie: Piggyback)
• Jumbo Loans
• Construction Loans