Conventional loans are a great option for anyone with good credit scores and a steady source of income. These types of mortgages are not backed by the federal government. Therefore, conventional loans typically come with higher interest rates. These interest rates are usually fixed and won’t change over the life of the loan.
Whether you’re a first-time homebuyer or are looking at purchasing a multi-unit structure, there may be conventional loans available that meet your needs.
You need a good credit history and steady income to qualify for a conventional loan. Want to find out how much house you can afford? Give us a call for a free consultation to find out more.