Conventional
Conventional financing is so much more than what your parents got when they took out a loan in the past. Qualified homebuyers may have access to conventional loan programs with down payments as low as 1%, depending on program availability, income limits, credit qualifications, and lender requirements.
Benefits
Conventional loans may be available to qualified borrowers purchasing a home or considering a cash-out refinance of an existing property.
Low Down Payment
Low Monthly Payment
Single family homes, townhomes, and condos may be eligible
Lisa had a bankruptcy just over 4 years ago, she’s now back on her feet and looking to become a homeowner again.
Our Approach
Many banks and credit unions have told Lisa that she does not qualify because she had a bankruptcy.
Results
After reviewing Lisa’s credit history and the applicable conventional loan guidelines, we confirmed that she had completed the required waiting period following her bankruptcy. She was then able to qualify for a conventional loan with a low down payment.
Tim and Casandra have been paying rent for the last 2 years and would love to get a dog, but their landlord will not allow it. They decided to look for a single-family home that would help improve their lifestyle.
The Problem
Although they have good credit, they have had issues saving up enough of a down payment to make their purchase.
Our Approach
Using Fannie Mae and Freddie Mac’s low down payment programs, they were able to put down only 3% of the purchase price for their down payment.
Results
Their dog now has the best yard to play in and they now have a kid on the way.
Interested in Applying?