Conventional Loans

Conventional loans are fixed rate or adjustable rate mortgage loans offered by non-government sponsored lenders. Fannie Mae and Freddie Mac create the guidelines that these loans must “conform” to – thus giving them their nickname of “conforming” loans. While many would be homeowners believe that these loans require larger down payments of 20% or more, these loans are widely available with as little as 5% or 10% down, or in some cases, only 3% down.
When exploring your mortgage financing options, this is definitely a program worth taking a look at!