Curious About

Conventional Mortgages?

Dear Ali, 

Did you know that almost 70% of new home sales were funded by conventional mortgages in 2019? If you're in the market for a home, it's important to learn the basics about conventional mortgages. 

What is a conventional mortgage?

A conventional mortgage is a type of loan not insured by a government entity (such as the Federal Housing Administration). Instead, conventional loans are backed by private lenders. 

What are the terms of a conventional mortgage?

Conventional loan terms range from 10 to 30 years, depending on your specific needs and financial situation. 

Is a conventional mortgage the right fit for me?

Requirements for qualifying for a conventional mortgage vary, however, in general, this type of loan is ideal for a borrower with healthy credit, consistent income, and a down payment of at least three percent. 

If you're curious about what type of loan is best for you, feel free to reach out! I'm always here to help you reach your financial goals. 

Sincerely, 

Anna Smith