When is a Conventional Loan the Best Option?

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It is a well known fact that many prospective first-time buyers consider the loan process as too difficult and closing costs too substantial.

If you are considering a home loan, a conventional home loan is a great starting place:

  • Most competitive mortgage rates
  • Flexible repayment period terms
  • No upfront mortgage insurance premium required
  • A conventional loan is the only option when buying a fixer-upper
  • Most beneficial interest rate if your credit score is over 720
  • Conventional mortgage allows greater loan amounts flexibility

Call Brian Lardner for an experienced conventional home loan broker who can provide clarity and assistance with the requirements for a conventional mortgage.

Not All Conventional Mortgage Lenders are the Same

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Conventional home loan rates change throughout the day and what you see today may not be available tomorrow.

It is also true that lenders structure their fees differently, and not every lender charges the same fees for a conventional loan.

The following information will provide you with an advantage when searching for a conventional home loan:

  • Different fees are charged by different lenders
  • Sometimes lenders sell your loan to another bank
  • Conventional mortgage rates change
  • A high credit score means a better rate

In view of the fact that there are lots of conventional loan options available to home buyers, it is our recommendation that you schedule a consultation with our experienced loan broker who can assist you in making the best choice for a home loan.

Why Come to Us When You are Considering a Conventional Home Loan?

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While a conventional loan is a great option for a home buyer, there are numerous considerations that may seem overwhelming or even confusing. And that is why we recommend a consultation with us when you are considering a conventional home loan.

These are some of the requirements you may need to address when considering a conventional loan, and where we can be of great service to you:

  • Amount of the down payment
  • When private mortgage insurance is required
  • Credit scores and loan level price adjustments
  • Loan debt-to-income ratios
  • Required asset and income documentation required
  • Types of properties eligible for a conventional mortgage
  • Applying for the loan

As an experienced loan broker we can work with you throughout the entire loan process until it is finalized.

Call Brian Lardner for an experienced and reputable loan broker who will assist you with the requirements for a conventional mortgage. 805-434-5226