Conventional mortgage loans are great for many of your clients with strong financial profiles (like stable work history, good credit, and money for a down payment). Whether your buyer is looking to finance their primary residence, vacation home, rental property, or more, a conventional mortgage loan with Windsor Mortgage could be the best choice.
Benefits of a Conventional Loan
- Many fixed-rate & adjustable-rate options are available
- Fixed-rate interest rates are set at the time of closing and remain constant throughout the life of the loan
- Adjustable-rate interest rates are set at the time of closing and remain constant through the initial fixed-rate period
- When the fixed-rate period ends, the interest rate can increase or decrease annually
- Conventional loan interest rates are some of the lowest available
- Conventional loans can be used to refinance existing loans
- Can finance a primary residence, vacation home, rental property, etc.
- Maximum Loan amounts vary by county
- Low down payment programs are available for qualified buyers
A conventional mortgage or conventional loan is any type of home loan that is not backed or secured by a government entity. Rather, these loans are available through private lenders, such as banks, credit unions, and mortgage companies, like us!
Because conventional loans present the most risk for lenders (since they are not backed by the government), applicants must have a stronger financial profile. ie. established credit and low levels of debt.
Best perks- these loans can finance all sorts of properties and come with a fixed interest rate, meaning the rate of interest never changes over the life of the loan (borrowers can refinance if the rates change).
Fixed-rate conventional loans are some of the most popular of all the loan options because the interest rate is set at closing and it remains constant throughout the life of the loan.
Whether you have questions or you're ready to get started, complete the following form to contact our team and we'll get back to you soon.