> Conventional Mortgage Loans
Conventional Mortgage Loans
The Conforming Conventional Loan program has a maximum loan amount of $417,000 for single family dwellings whether it is a purchase or a refinance.
For any loans 80% loan to value or higher, private mortgage insurance is required and obtained by the lender from a third party source.
There is a minimum down payment of 5% required of the home borrower on a purchase and the minimum FICO score is 640.
Conventional Conforming Mortgage Loan Details:
- Maximum Loan Amount $417,000 for a single family dwelling
- Private Mortgage Insurance required on a loan amount exceeding 80% Loan to Value
- Investment Property loans available at 85% Loan to Value
- Fixed Rate and Adjustable Rate Mortgages Available
- Variety of Mortgage Terms Available (10 year; 15 year; 20 year; 30 year)
- Home Affordable Refinance Program (HARP)
- DU Refi PLUS
- HomePath Program
- Cash Out Refinances
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