A conventional mortgage is made available through private lenders such as banks, credit unions, and mortgage companies. They are not guaranteed or insured by any government agency such as the Federal Housing Administration (FHA) or the department of Veterans Affairs (VA).

Conventional mortgages typically require a down payment of 3%-20% and can have a fixed or adjustable interest rate.

There are several advantages to a conventional mortgage as compared to other types of loans:

  • More flexibility
  • Equity builds immediately
  • Quicker loan process
  • Closing costs and fees are lower and may be included in the loan
  • Private mortgage insurance not required with minimum of 20% down.
  • More favorable repayment terms

Call one of our loan professionals now to see if a conventional mortgage is right for you. 855-200-2774

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Jennifer Ganas

"The best experience ever. Michael Melton was very helpful in every possible way. He was always available to answer questions, especially during a time where my significant other and I needed extra clarity. Everything was handled quickly and cleanly. Very good response time and accurate numbers."

Katy Anderson

"Michael Melton is very good in every detail of our refinance to make sure the process was always on track. I would gladly recommend him to any of my friends and family who are looking to refinance their mortgage with a true professional. We had a horrible experience with a previous lender, dropping us out of nowhere while in escrow. Alex and his team took us on and were there to assist us in getting our loan approved during this stressful time. We are now proud first time homeowners!"