Conventional Loans

A conventional loan is one that isn't back by any government entity such as FHA or VA.  If you are putting less than 20% down you will be required to carry monthly mortgage insurance also know as private mortgage insurance (PMI).

What is the minimum downpayment?

Fannie Mae Home Ready Mortgage you can purchase a home with as little as 3% down.

Maximum loan limits by dwelling type

  • 1 unit is $453,100
  • 2 unit is $580,150
  • 3 unit is $701,250
  • 4 unit is $871,450

Types of properties eligible

  • Single Family Homes
  • 2, 3, or 4 unit properties
  • Condominiums

Second homes and rental investment properties unlike government backed loans are eligible for financing.

Ready to get started?  Give me a call or apply online today.