Conventional Loans

Whether you’re in the market to purchase a new home or refinance an existing home, a conventional loan may be the best loan option for you.  A conventional loan generally takes less time to process than a FHA or VA loan.  And because these loans generally require higher down payments than the other loans, your home equity will build much faster.

A conventional loan can be conforming or nonconforming.  If your loan is above the lending limits set by Fannie Mae or Freddie Mac you have a nonconforming loan also known as a jumbo loan.

Most conventional loans are either a fixed rate or an adjustable rate mortgage.  A fixed rate mortgage typically has a loan term of 10, 15 or 30 years and the lower the term usually the lower the interest rate.  Adjustable rate mortgages (ARM) fluctuate in relation to the rate of a financial index and monthly payments can increase or decrease accordingly.  Adjustable rate mortgages typically offer a lower rate for the first 3, 5, 7 or 10-year period than a fixed rate mortgage.

Refinance

If you’re looking to lower your interest rate, reduce the term of your loan or use the equity in your home to consolidate debt or make home improvements a conventional refinance loan may be an ideal way to cut your expenses or cash-out for whatever you wish.  And, now is the perfect time as rates have come down considerably in the last few decades and are predicted to rise soon.

Whether you are in an adjustable rate or fixed rate mortgage, lowering your interest rate could save you hundreds of dollars each and every month.  If your adjustable rate mortgage is ready to adjust now may be the time to convert it into a fixed rate so your rate never changes for the remainder of the term of your loan.

If you have high-interest debt that you want to consolidate, want to make home improvements, or just need cash on hand for unexpected expenses, you can refinance into one low monthly payment each and every month all while still saving hundreds of dollars a month.

With the Equity Builder Program, you could reduce the term of your loan and save you tens of thousands of dollars of interest over the life of your loan.  For more information on your refinance options, contact one of our Mortgage Consultants today.  We are here to help you!

Purchase

Purchasing a home is a smart investment you will ever make.  Whether you are looking to buy your first home, moving to a new home, or even looking to purchase a vacation home or investment property, a conventional loan could be the money-smart way to finance your new home!

We know that buying a home is the single largest purchase you will ever make.  We want to ensure that you are receiving the best financing for your new home.  With a conventional loan you could finance up to 95% of the purchase price. It is ideal for borrowers with great credit who can afford a down payment of 5% or more.

With a variety of terms 10, 15, 20 or 30 year loans, we can offer you a loan at very competitive loan rates!    We offer the smart borrower with multiple loan options that will meet your specific needs.

For the smart choice, contact one of our Mortgage Consultants today.  We are experts at helping you get the money you need to purchase your new home!


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