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Conventional Loan

A popular option with flexible terms for qualified buyers.

Conventional loans, known for their flexible terms and competitive interest rates, are one of the most popular mortgage options for homebuyers.

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Conventional Loan Features

These versatile mortgages suit a variety of borrower needs.

No Government Backing

Conventional loans are offered by private lenders and aren’t insured by a government agency, giving lenders flexibility in setting terms.

Loan Variety

These loans come in different forms, such as fixed-rate and adjustable-rate mortgages, catering to different financial strategies.

Wide Property Eligibility

Can be used for various property types, including primary residences, second homes, and investment properties.

Flexible Down Payment Options

Conventional loans offer flexibility in down payment amounts, potentially avoiding the need for private mortgage insurance.

Benefits of a Conventional Loan

Potentially Lower Costs

Competitive interest rates and no upfront mortgage insurance can result in lower overall costs.

Higher Borrowing Limits

Conventional loans can offer higher loan amounts compared to government-backed loans, which is ideal for higher-value properties.

Customizable Terms

Borrowers can choose from a variety of loan terms and structures to suit their financial situation.

No Government Fees

Unlike FHA or VA loans, conventional loans don’t have additional government fees, reducing the cost burden on borrowers.

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Choose A and N Mortgage for your conventional loan and experience personalized service with competitive rates that align with your financial goals.

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loan FAQ

Loan Program

Frequently Asked Questions

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Some loans will allow you to secure just a 5% down payment plus closing costs. Another option is a piggy-back loan where you get approved for the first and second mortgage to avoid PMI. You could also apply for an FHA loan which only requires a 3.5% down payment.

However, your interest rate will likely be higher, and you will be required to buy private mortgage insurance (PMI).