Conventional mortgages are the most popular option for borrowers looking to purchase or refinance a home. Borrowers may choose between fixed- and adjustable-rate mortgages with terms from 10 to 30 years. Conventional mortgages are not insured or guaranteed by any government agency and may be sold to Fannie Mae or Freddie Mac.

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Many borrowers enjoy the consistent monthly payment that comes with a fixed-rate Conventional loan, as this tends to make budgeting easier. However, adjustable-rate mortgages (ARMs) are also available and could be a better option for you. Your Loan Originator will talk you through both options, and work with you to secure the best option for your situation.

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Why Get a Conventional Loan?

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• Competitive interest rates.

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• Low down payments.

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• Credit scores as low as 620 may be accepted.

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• Fixed rates offer consistent monthly payments and simplify planning and budgeting.

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• Many choices in loan structure (fixed-rate mortgages and adjustable rate mortgages at differing term lengths).

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• Available for purchase, refinance, or cash-out refinance.

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