(623) 223-7943 dayala@peoplesmortgage.com [su_button url="http://getyourhomeloan.us/apply-for-your-loan-now/" target="self" style="3d" background="#dd3333" color="#FFFFFF" size="5" wide="no" center="no" radius="auto" icon="" icon_color="#FFFFFF" text_shadow="none" desc="" onclick="" rel="" title="" class=""]Apply Now[/su_button]

Conventional Mortgage Loan

Conventional mortgage loans are advantageous to borrowers with outstanding credit scores and little debt.

A conventional mortgage loan is 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. Conventional mortgage loans are typically only advantage to borrowers with outstanding credit scores and low debt to income ratios.


Conventional Mortgage Loan Features & Benefits

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