We currently offer conforming conventional products with flexible terms!
Here is the breakdown for Conventional Loans: Credit score: 620 and above but optimal buyers are over 680. DTI: Learn DTI requirements and how to calculate it here Down Payment: 5% minimum, but if you're not putting 20% down, pricing should be better on the 3% down options. Term(s): Fixed and Adjustable rate options available up to 30 years. Liquid Reserves: Based on risk evaluation. Required if you are a property investor and own multiple properties. Mortgage Insurance: Required for LTV higher than 80%. May be dropped from monthly payment once LTV of the propertry drops below 80%. MI is often significantly higher than FHA loans for buyers under 700. Appraisals: Typically more conservative as compared to HUD appraisals used for FHA loans.
If you're ready to rock and roll..
Fill out a brief questionnaire and we'll give you a free affordability analysis! We will contact you with the results within 24 hours and help you determine whether you're ready to get pre-approved to purchase a home!