Coventional Mortgage Loans

What are Conventional / Conforming Loan?

Conventional also known as Conforming Mortgage Loans are mortgage loans that meet the credit and income guidelines of the government sponsored enterprises of Fannie Mae and / or Freddie Mac.

Under their eligible financing guidelines, investors (buyers of the mortgage & note) are offered the comfort of knowing that loans approved by Fannie Mae & Freddie Mac guidelines have a low risk of default.

Under Fannie Mae & Freddie Mac Underwriting guidelines if you borrower more than 80% of the value of your home you are required to have a mortgage insurance policy that protects the investor (owner of your mortgage) in case you default.

When would i want to use this loan product?

Conventional also known as Conforming Mortgage Loans are mortgage loans that meet the credit and income guidelines of the government sponsored enterprises of Fannie Mae and / or Freddie Mac.

Under their eligible financing guidelines, investors (buyers of the mortgage & note) are offered the comfort of knowing that loans approved by Fannie Mae & Freddie Mac guidelines have a low risk of default.

Under Fannie Mae & Freddie Mac Underwriting guidelines if you borrower more than 80% of the value of your home you are required to have a mortgage insurance policy that protects the investor (owner of your mortgage) in case you default.

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