LOAN TYPES

Conventional Loans

Key Features

  • Requires no private mortgage insurance (PMI) with a 20% down payment

  • PMI may be removed after loan is paid off by 20%

  • Flexible Loan Terms

  • Fewer penalties and fees

  • Competitive interest rats for borrower with good or excellent credit

  • Fewer restrictions than some other loan program

CONVENTIONAL LOANS

Conventional Loans usually require a minimum 3-5% down payment and may also carry private mortgage insurance if you finance more than 80% of the value of the home. Conventional Loans requirements for credit are typically stricter than other loan types as they do not come with a government-backed loan guarantee. Freddie Mac and Fannie May are the top investors for Conventional Loans. Conventional Loans have no Funding Fee and are not required to have mortgage insurance with at least a 20% down payment.

There are down payment assistance options that can be utilized with Conventional Loans!

Call us today to talk with one of our Future First Home Loan Specialists to find out if a Conventional Loan will meet your specific home-buying or refinance needs. 253-200-3134

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TESTIMONIALS

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253-200-3134

5306 Pacific Hwy. E Suite B

Fife, WA 98424

© 2024 Cornerstone First Mortgage, LLC. All Rights Reserved. NMLS ID #173855 Equal Opportunity Lender. *A down payment is required if the borrower does not have full VA entitlement or when the loan amount exceeds the VA county limits. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit guidelines, and property limits. Fairway is not affiliated with any government agencies. These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.

Complaints may be directed to:


(866) 815-1803 or Email us: [email protected]

Loan Officers licensed in: AL, AR, AZ, CA, CO, FL, HI, IA, ID, IL, IN, KS, KY, LA, ME, MN, MO, MT, NC, ND, NM, NV, OH, OK, OR, SC, SD, TN, TX, VA, WA, WY.

5306 Pacific Hwy E. Suite B Fife, WA. 98424.

253-200-3255

Company NMLS#173855