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.