If you have good credit and are planning on putting at least a 20% down payment on your next owner occupied property, or looking to purchase an investment property, than a Conventional Loan is most likely the program for you. Conventional loans often offer the lowest rates and a variety of terms. Unlike many federally insured loans, Conventional loans do not require the borrower to pay a funding fee on top of the traditional closing costs limiting the amount financed to the actual amount borrowed. The maximum loan amount for Conventional loans is $484,350.
To find out if a Conventional Loan is the best option for your next purchase contact us today and one of our experienced mortgage professionals will help you achieve your goals.