Flat Branch Home LoansConventional Loans
Conventional mortgages are your standard, traditional mortgage. Conventional loans are often known as “conforming” loans because they adhere to the guidelines provided by Fannie Mae and Freddie Mac. Loans made with conventional financing offers flexibility, as you can utilize this product for either a primary home, secondary residence, or investment property. In connection with this there is no up-front guarantee fee, as seen on government financing. Rates (both fixed and adjustable rate) and mortgage insurance options vary based on individual file characteristics, such as credit score, loan amount, loan-to-value, transaction type, and occupancy type.
Flat Branch Home Loans offers very competitive rates and closing costs. Our team of registered and licensed mortgage bankers have the knowledge and expertise to help you navigate through the path of finding the right loan program for you.
A jumbo mortgage exceeds the conforming loan limits of a conventional home loan by established regulations. A jumbo loan is anything above the $453,100 maximum conventional loan allocation and is limited to $2 million. Flat Branch Home Loans works with jumbo loans every day and understands you need a first-class loan.
Conventional Loans Highlights
- Loan amounts up to $453,100
- All occupancy types accepted (primary, secondary & investment)
- Flexible loan terms (10, 15, 20 and 30 year)
- Down payments as little as 3% (additional guidelines apply)
- No monthly mortgage insurance with 20% or more down
- Waive escrows included in your payment with 20% or more down
- Fixed and ARM rates available
- Competitive rates and closing costs
- Community Champions eligible