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  • The Conventional Conforming Loan program is the traditional mortgage program. The standardized guidelines are set by Fannie Mae and Freddie Mac. It can be used to finance all different types of residential properties. 

    The loan requires mortgage insurance if the down payment is less than 20 percent of the purchase price or appraised value, whichever is less. The monthly mortgage premiums can be less than FHA mortgage insurance.

    Loan Terms: 10, 15, 20, 25, 30 year loans (if you are refinancing, sometimes your loan term can remain the same as your current mortgage. In other words, if you currently have 23 years left your new loan can be set up for 23 years)

    Loan Types: Fixed and Adjustable

    Interest Rate Types: Purchase, Refinance

    Property Types: Primary Residence, Second Home & Investment Properties

    Down payment as low as 3% of the purchase price.

    Mortgage Insurance can be canceled when the principal balance is less than 80% of the market value of the home. 

    Loan amounts up to $484,350.  

    A new program that is available is what is called a High Balance Loan.  This allows conventional financing up to $726,525.  Call for details. 

    Higher loan amounts require JUMBO financing.