Conventional loans are traditional financing from the banks. These loans can be difficult to get if the buyers credit has some glitches. Banks look closely at the buyer’s credit and work history. They also may have lower debt to income requirements to get a conventional loan.
Also required down payments can range from 3% to 20% down, in some cases even 0% or 1% down. The higher the down payment is then the less the required mortgage insurance will be.
If you have a good down payment and good credit, or if you currently own and want to move equity to a new homes then conventional loans are a definite loan to consider.
For more questions and how to start the process schedule a free 10-minute call to find out how to start and what programs are available. There is no harm in trying and if anything, you will at least get a plan of what to do to eventually own a home.
So schedule today and find out what you need to do to own your home.