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Conventional Mortgage Loans

Conventional Mortgage Loans

The Conforming Conventional Loan program has a maximum loan amount of $647,200 for single family dwellings whether it is a purchase or a refinance.

For any loans 80% loan to value or higher, private mortgage insurance is required and obtained by the lender from a third party source.

There is a minimum down payment of 5% required of the home borrower on a purchase and the minimum FICO score is 620. 

Conventional Conforming Mortgage Loan Details:

  • Maximum Loan Amount $647,200 for a single family dwelling
  • Private Mortgage Insurance required on a loan amount exceeding 80% Loan to Value
  • Investment Property loans available at 85% Loan to Value
  • Fixed Rate and Adjustable Rate Mortgages Available
  • Variety of Mortgage Terms Available (10 year; 15 year; 20 year; 30 year)
  • HomePath Program
  • Cash Out Refinances
  • HomeReady & HomeOne 97% LTV
  • Manufactured Homes

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