Grand Rapids MI CONVENTIONAL HOME LOANS & MORTGAGES
Learn About Your Grand Rapids Conventional Mortgage Loan Options And How They Can Benefit You
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*Approximately 3 -5 Minutes to Complete The Form.
*Approximately 3 -5 Minutes to Complete The Form.
*Approximately 3 -5 Minutes to Complete The Form.
Welcome to HomeTown Lenders. We are a leading Nationwide Conventional Home Loan Lender, and for good reason. We have helped many families and individuals in Michigan, Alabama, Arkansas, California, Florida, Louisiana, Kentucky, Maryland, Missouri, Mississippi, New Mexico, Tennessee, Texas, and Virginia achieve their dream of home ownership through conventional mortgage home loans.
Contact your HomeTown Conventional Home Loan Lender today to get the information you need to know to get prequalified or start your Conventional Mortgage Loan Application.
Conventional or conforming loans refer to any mortgage that is not insured by the federal government. These types of mortgages follow the terms and conditions set by Fannie Mae and Freddie Mac. They are government sponsored institutions who are the largest purchasers of mortgages in the United States. These loans have stricter qualifying guidelines compared to government insured loans. High credit scores are recommended for this program since it will directly impact your monthly mortgage payment.
Your debt to income ratio is also carefully reviewed and needs to be below 45%. A common misconception about conventional mortgages is that a 20% down payment is required in order to qualify. The reality is conventional financing allows for 3% down payment when used in combination with monthly mortgage insurance.
Conventional Loans are one of the best options for prospective borrowers with a high credit scores. By having a higher credit score additional benefits become available like no mortgage insurance, lower down payments, and more competitive pricing. When considering a new home loan conventional financing should be at the top of the list if you have above average credit, a larger down payment, or would like to avoid the additional cost sometimes associated with government insured loans.
Down to a 620 Credit Score
Down to a 620 Credit Score
Manufactured Home
Loans Available
Down to a 620 Credit Score
Need A Little Help?
There May Be Assistance!
5% 1% 4% Principal & Interest $1421 Monthly Taxes $1421 Monthly Insurance $1421
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$
$1421
Monthly Payment
Thank you for choosing HomeTown Lenders for your home loan mortgage needs. One of our team members will contact you within the next 24 hours. In case of weekends or holidays, we will contact you the next available business day.
Special restrictions and guidelines for bad or poor credit.
All loans FHA, VA, USDA:
On FHA with Credit scores less than 580
On VA with Credit scores less than 580
On USDA with Credit scores of 580-619