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Conventional Residential Mortgages

Conventional mortgages are the bedrock of homeownership for many Americans. These straightforward loans offer stability, competitive interest rates, and flexibility for those looking to purchase or refinance their homes. In this section, we’ll demystify the world of conventional mortgages, providing you with essential information and insights to make informed decisions about your housing future. Whether you’re a first-time homebuyer or a seasoned homeowner, explore our resources to navigate the world of conventional residential mortgages with confidence.

Conventional Residential Mortgages

Conventional residential mortgages are a popular type of home loan for those looking to purchase or refinance a house or condo. These mortgages are typically offered by banks and other financial institutions, and are not backed by any government agency like the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).

Conventional mortgages usually come with fixed or adjustable interest rates, with a term typically ranging from 15 to 30 years. They require a down payment of at least 5% (though some lenders may require more), and borrowers must have a good credit score and steady income to qualify.

One of the advantages of a conventional mortgage is that the borrower can avoid paying mortgage insurance if they put down at least 20% of the purchase price. Additionally, these mortgages can typically be used to purchase primary residences, second homes, and investment properties.

Overall, conventional residential mortgages offer a flexible and affordable way for homebuyers to finance their dream homes.

Unlock a world of possibilities, fulfill your future plans today

At Custom Mortgage, we specialize in creating tailored solutions for your mortgage needs. Our team of experts will work with you to understand your unique circumstances and goals, so that we can offer you a personalized mortgage plan that is specifically designed to meet your requirements. Whether you’re new to the property market or a seasoned investor, we offer a range of conventional mortgage products that can be customized to suit your financial situation. Our application process is simple, fast and hassle-free, making it easy to navigate through the mortgage approval process. At Custom Mortgage, we are dedicated to helping you secure the home of your dreams and our committed team of mortgage professionals are always on hand to guide you every step of the way. Contact us today to get started!

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