Conventional Loans

Why Should You Consider a Conventional Loan?

If you’re looking to buy a home, we’re here for you. With years of experience in the industry and expertise as an experienced mortgage broker, we can use our skills to make your application process easy. For those who may not be able to avail themselves of loans that are insured by a federal agency such as FHA, VA, and USDA, conventional loans offer an option that guarantees the actualization of your homeownership plan.
A conventional mortgage is a more common type of loan that isn’t guaranteed by the government. Instead, private lenders back these loans with insurance paid for by you as the borrower. Over the last three years, over 70% of new home purchases were made with this kind of financing because it’s available and affordable to most people looking to buy their first property.

Conventional loans can broadly be categorized into two types -conforming and non-conforming conventional loans.

For a person to be considered for a conforming conventional loan, Fannie Mae and Freddie Mac requirements must be met. These requirements include the loan limit, which may depend on the location of the property. Non-conforming conventional loans, on the other hand, are not bought by Fannie Mae or Freddie Mac as they do not meet the amount requirements, instead, they are funded by lenders. Other types of conventional loans include ARMs, fixed rates, and jumbos.

As an experienced Upstate and Western New York mortgage broker, we will advise you accordingly on the type of conventional loan that best suits your needs. We want to make the process as easy for you as possible by guiding you through it with personalized support.

Benefits of a Conventional Loan

The popularity of conventional loans emanates from the following features which make the mortgage process smooth.
With us, getting a conventional loan is easy; we have the experience, necessary information, and proper understanding of the market. Let us help you make the dream of owning a home a reality.

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