Conventional mortgages are any type of home loan that is not secured by government entity, like the USDA or VA. Essentially, it’s your standard mortgage. They’re often known as “conforming” loans because they adhere to the guidelines provided by Fannie Mae and Freddie Mac. Loans made with conventional financing offer flexibility, as you can utilize this product for either a primary home, secondary residence or investment property. Along with this, there is no upfront guarantee fee as seen with government financing. Rates and mortgage insurance options vary based on what you need from the loan and your unique financial traits, such as credit score, loan amount, the proportion of the loan to the value of the property (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.