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Conventional Loans

Conventional loans are also known as “A Paper Loans”.

Is it true that you need a down payment of 20% to buy a house, even for a conventional loan?
NO, this is a falacy by the uneducated and the media.

The Minimum down Payment Required on Conventional Loans is  3% of the purchase price

We offer Home Path Loans.

If a conventional refinance loan, it is 97% LTV (Loan to Value) of the Appraisal (if you’ve owned the property a minimum or 12 months).

If time on title is less than 12 months, then the LTV is based on the original purchase price.

If a cash out refinance loan, the LTV is 80% of the Appraised value, subject to having owned the property a minimum or 12 months.

The minimum requirement is: 620 Middle Fico score; to get the best interest rates on conventional mortgage loan, you need a Middle Fico Score of 740 or higher (This gets the best interest rates).

Our pricing on conventional loans is better than going to a local bank or credit union.

Why?  We have special arrangements with national lenders that we produce volume loans and pass the savings on to our borrowers.

Conforming Loan Limits