A Conventional (or conforming) loan meets the guidelines set by Fannie Mae and Freddie Mac – the agencies that help standardize the mortgage industry.
Although best suited for those with a good credit score, many borrowers can qualify for conventional financing.
If you have good credit and money for a down payment, you can take advantage of some great options with a Conventional loan.
A typical conventional loan requires 20% down but there are conventional programs that allow 10%, 5% and even 3% down payments.
Be sure to review all our conventional loan programs and check with a loan consultant to see what you can qualify for given your specific scenario.