What is a Conventional Loan?
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Competitive Rates and Countless Options
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Benefits of a Conventional Loan:
Both fixed- and adjustable-rate options available
Financing up to 97% of the purchase price (up to 95% with conforming high-balance)
Who Qualifies for a Conventional Loan and What Are the Limits?
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Homebuyers who meet the following criteria may qualify:
Homebuyers with good credit (scores as low as 620) and a qualifying debt-to-income ratio
Homebuyers who do not need to borrow more than their county limits
Conventional loans also have limits to keep in mind:
Conventional loans have certain minimum down payment requirements
Conventional loan amounts may not exceed county loan limits (varies on a county-by-county level)
If You Don’t Qualify for a Conventional Loan:
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If you're interested in learning more about Loans, Contact Us.
The information provided in this blog post is for general informational purposes only and does not constitute professional financial advice. Freestone Mortgage LLC makes no representations or warranties about the accuracy, completeness, or suitability of this information for your specific situation. Mortgage refinancing options and outcomes can vary greatly depending on individual circumstances, market conditions, and regulatory changes. Before making any decisions regarding mortgage refinancing, you should consult with a qualified financial advisor or mortgage professional to obtain personalized advice. Freestone Mortgage LLC is not liable for any losses or damages arising from the use or reliance on the information provided in this blog post. All loans subject to underwriter approval; terms and conditions may apply. Subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction
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