Conventional Loans

You can buy a home with conventional financing from as little as 3% down on your primary residence. Both Fannie Me and Freddie Mac have low down payment programs that allow borrowers to qualify for a conventional mortgage with lower down payments, lower Mortgage insurance, and easier qualification guidelines.

• Down Payment: 3% or more down payment is typically required. Down payment for primary residence can be in the form of a family gift.10% down for a second home, and 15% or higher down payment for an investment property.
• Credit Scores: Minimum credit score required is 620. Ideal for borrows with less blemishes on their credit file.
• Occupancy: Owner occupied, second home, or investment properties are allowed
• Proof of income (W2’s, tax returns, etc.)