Conventional loans
Loans without a government guarantee, for primary homes, second homes and rentals.
Conventional loans follow lender guidelines and, for most loans, the standards set by Fannie Mae or Freddie Mac.
They are used for primary residences, second homes and investment properties.
Good to know
- With less than 20% down, private mortgage insurance usually applies until enough equity is built.
- Pricing and eligibility depend on credit, down payment, property type and occupancy.
- Conforming loan limits apply. Larger loan amounts fall under jumbo guidelines.
Questions to bring to Sapan
- How does my down payment change the monthly cost?
- When would mortgage insurance come off?
- How does a conventional loan compare with FHA for me?
Program availability, terms and eligibility are confirmed with Sapan against current Secure Choice Lending guidelines and the states where he is licensed.