Conventional Financing

Conventional Financing is for Good/Excellent Borrowers who deserve the lowest prevailing rate. Most loan searches start with these Fannie Mae or Freddie Mac Alternatives

  • Credit Scores should be 680 or better for each borrower otherwise there are adjustments to pricing
  • Fixed Rates and Adjustable Rate Mortgages available at rates as low as 3.75%
  • These programs generate the lowest payment for refinances and purchases because usually there is no mortgage insurance
  • Mortgage insurance is required for 80%-90% financing on purchases or refinances
  • DU Refi Plus or Freddie Mac Relief allow for up to 105% ,and in some cases 125% financing, without PMI for homeowners who previously secured Fannie Mae or freddie mac financing on their homes
  • I can price your loan with points or without. Typically you pay a point to buy your rate lower if you intend to stay in the home for a while
  • Loans for Primary Residence, Second Homes or Investment Properties
  • Fannie Mae or Freddie Mac Loan Programs make for an easier process. Fha has more paperwork
  • Maximum 6% seller paid closing costs for purchase loans 80% and under
  • Maximum 3% seller paid closing costs for purchase loans 90% and under
  • No Prepayment Penalties

 Special Note about Condos: Many lenders don't want these types of loans because associations are hurting due to high foreclosure rates. Some sources require 30% down if they are going to do them at all.


Mortgage Calculator:
Sales Price: $
Down: %
Interest Rate: %
Term: yrs
Monthly payment: $



Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.
 
Your Information
*Name:
*Email:
Phone:

Your Question
Question:

Note: Fields with an * are required

 
Your Lender for Life and a Valuable Resource to All of Your Friends


Preston Ware
Phone:

Contact Us | Do's and Don'ts | Helpful Links | Frequent Questions | Foreclosures | Home Buyer Seminar | Social Networking | Search For Homes | Link Exchange | Site Map | Mortgage Calculators West Palm Beach | My Service Area | Check Property Value

Copyright © 2012 Preston Ware
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map



 
State:
County:
City:
Zip: