Conventional Mortgage

These are loans or mortgages not offered or secured by a government entity. Instead, a conventional mortgage is available through private lenders, such as banks, credit unions, and mortgage companies or investors. We’ve helped thousands of Clients get conventional funding throughout Florida and can absolutely help you. Some of the key elements with these loans are:

Low Down Payment

Down payment for Conventional Loan starts at 3% of Purchase Price

Higher Loan Limits

Jumbo Loans can go up to $3 million

Lower Interest Rate

Your interest rate on a conventional loan is tied to your creditworthiness (among other factors), so a high credit score can help you qualify for a lowest interest rate.

Credit Score to qualify

Qualifying Credit Score for Conventional Loans is 620 and higher

Approvals for all kinds of situations

Private mortgage lenders have more flexibility with conventional loans than they do with government-insured loans, because they don’t need to follow the guidelines set by government agencies.

As a result, these experts can find a Loan Product that suits your needs and situation best.

Main Points of a Conventional Mortgage

    • A Conventional mortgage or Conventional loan is a home buyer’s loan that is not offered or secured by a government organization
    • They are available through a private lender or guaranteed by the two government-sponsored companies: Fannie Mae and Freddie Mac
    • Potential borrowers need to complete a mortgage application, supply required documentation and give consent to run their Credit Report
    • Conventional loan interest rates tend to be a little higher than those of government-backed mortgages, such as FHA loans, but if your down payment is > 20%, then Mortgage Insurance will not be required. (Unlike FHA loans, where you pay mortgage insurance over the life of the loan).

Our goal is to match you with experts that get you the best deal, the best rates and your loan approved!

FAQ’s on Conventional Mortgages

  1. Check your Credit Score in your Online Bank or Credit Karma. Although Credit Score for a Mortgage Loan will be different from the one displayed (it’s calculated using different formulas), but you will have a general idea. Mid – to upper 700s could qualify you for the better interest rates available on the market.
  2. Be ready for the Down payment. While many conventional loans don’t require a big down payment, the more money you put down, the better your chances of qualifying for a lower interest rate. You can get a Conventional Loan with as low as 3% down, but in order to avoid paying Mortgage Insurance, you’ll need at least 20%.
  3. Approximate your Debt-to-Income Ratio
    Your credit score is one factor in determining your eligibility for a conventional mortgage, but lenders will also look at your debt-to-income ratio. Lenders typically want to see that your total monthly debts are no more than 36% of your monthly gross income. Lenders may stretch their required DTI to 43% or higher if you have very strong credit scores, large savings set aside, or are making a down payment of at least 20%.
  4. Fill out our Application online to get Pre-approved! We will check your Credit Score, Debt-to-income ratio and see what you qualify for.
  5. Get ready to go Home shopping!

620 or Higher. The higher the score (among other factors), the higher the potential for a better interest rate.

The is no set amount of what you need to make. Your qualification will heavily depend on your Debt-to-income Ratio (The amount of money you spend vs the amount of money you make). So once we run your Credit Report, we’ll be able to see what your liabilities are (like car and credit card payments) and having your Paystubs, W2 or Tax Returns will let us calculate your income to establish this ratio for you.

Conventional Loan is a great option if you have a good-excellent credit score, solid job and little debt. By paying 20% down, you can avoid Mortgage Insurance, which will lower your mortgage payments. If you don’t mind paying extra each month, conventional loans are available with a down payment as low as 3%.

Get Approved Lenders

How It Works

Simple Hassle Free Process

It starts with a no hassle and no commitments phone, text or email conversation. Everyone’s situation is different and our experts will analyze your needs and wants and help get you the BEST property loan possible.

Safe & Easy

We work with 5 star Google-rated companies and mortgage professionals and have helped people find the best loan solutions and providers.  Our goal is to be the best resources of information for your needs. Start by inquiring.

1. Submit Request

Inquire with Basic Info

2. Information Review

Your inquiry is manually reviewed.

3. Match You Correctly

Get matched with the best provider based on inquiry.

4. Provider Contacts You

Professional reviews & contacts you for final steps.

Benefits of Our Process

We picked the most experienced loan officers that have the knowledge & expertise you need to explore the many financing options available to make the right choice for your property mortgage loan needs. Finding the best banks and brokers can create confusion and working with the best helps you in this major decision.

  • Best Broker Match up for Your Needs

  • Human Expert Loan Review

  • Over 200+ Bank Network to Work With

  • 5 Star Rated Brokers & Funding

  • Various programs for all buyers and investors.

  • Foreign National Buyers for US Mortgages.

  • They’ll Sit and Discuss the Best Loan Deals.

  • No Pressure or Obligation to Use

Other Funding Sources

  • Limited Banks to Shop Around.

  • Will Choose Loans Based on Their Needs.

  • Interested More in Selling Your Data

  • Script based boiler room operations for quick buck.

  • Only Work With a Few Providers

  • They Want Easy Situations and Don’t Fight for You.

Have a Unique Situation?

We’ve helped thousands of borrowers find the right funding brokers no matter the issues.

Get a funding consultation

The Process

No hassle, No Commitments, No Spamming from us. We’ll walk you through the process.