Conventional Loans

Types of Conventional Loans

Conventional home loans are mortgage loans offered by non-government sponsored lenders. They are not insured or guaranteed by the federal government. In general, conventional loans are protected by Fannie Mae & Freddie Mac which are stockholder-owned corporations.

Fixed Rate Mortgages

Fixed Rate Mortgages

The fixed rate mortgage is the most popular home financing type. Having an interest rate that never changes, it gives you stable and predictable monthly payments throughout the life of the loan

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hybrid loans

Hybrid Mortgage

Hybrid loans combine features of both adjustable and fixed-rate mortgages

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adjustable mortgages rates

 Adjustable Rate Mortgages

Adjustable rate loan programs (ARMs) are mostly used for home buyers that only plan to own their home for a short period of time or plan on paying off their home in the near future, perhaps from the sale of another property.

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Fixed Rate Mortgages

Balloon Mortgages

This mortgage has a payment schedule similar to a 30-yr fixed rate loan, but the term of the balloon loan is shorter, typically 5 to 15 years

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hybrid loans

Reverse Mortgages

A Reverse Mortgage is when a homeowner is able to convert part of the equity invested in the home into cash to pay for living expenses. Instead of making a monthly payment to the lender, the lender pays the borrower each month. 

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adjustable rates

Jumbo Mortgage Loan

Jumbo Loans go over the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits (thus called non-conforming loans).

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