Conventional Mortgage Loans in NJ, NY, PA & FL
A conventional loan is a mortgage that is not insured or guaranteed by a federal government agency. Conventional financing is commonly used by homebuyers and homeowners purchasing or refinancing residential real estate.
Who This Is For
Who May Consider a Conventional Loan?
Conventional financing may be appropriate for a range of borrowers depending on their goals, qualifications, and the property they are financing.
- Are purchasing or refinancing a home.
- Have established credit and qualifying income.
- Want financing options for a primary residence, second home, or eligible investment property.
- Want to compare different down-payment and mortgage-insurance options.
Program Overview
Common Features
Conventional mortgage programs may offer a range of options depending on the lender, loan program, and borrower qualifications.
Fixed-Rate and Adjustable-Rate Options
Conventional programs may be available with fixed interest rates for the life of the loan or adjustable rates that may change over time.
Flexible Loan Terms
Different loan terms may be available depending on the lender and program selected.
Multiple Occupancy Types
Financing may be available for eligible primary residences, second homes, and investment properties.
Down-Payment Options
Down-payment requirements can vary based on borrower qualifications, occupancy, property type, and the specific loan program.
Mortgage Insurance Considerations
Depending on the loan structure and available equity, it may be possible to eliminate or avoid private mortgage insurance.
Broad Lender Availability
Conventional loan programs are offered by a wide range of lenders, which may provide more options for qualified borrowers.
Eligibility Factors
Loan Qualification
Qualification for a conventional loan can depend on a number of factors that lenders typically review during the application process.
Ready to Begin?
Start Your Application
Connect with Marisol Charleus and the Prosper Path Group team to discuss your conventional loan options and explore the programs that may be right for you.
Loan programs, interest rates, terms, down-payment requirements, mortgage insurance requirements, and eligibility are subject to lender guidelines and may change. Not all applicants will qualify.
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