Interested in a conventional mortgage? Allow us to help you find the right lender and loan agreement!
There are lots of different loan types out there that help people buy homes, and conventional mortgages are among the most common. Unlike government-backed loans, conventional mortgages are issued by private lenders. This often means that buyers who choose a conventional mortgage have a broader range of terms and conditions to choose from, making it easier to find an option that fits their specific circumstances. At Steve Owens Home Loans – MIG, we help home buyers in the Asheboro, North Carolina area find the right loan for their home-buying journey, and we’d love to talk with you about whether a conventional mortgage would work for you.
A conventional mortgage isn’t backed by the government the way that FHA or VA loans are. This type of loan is often offered by private lenders like banks or credit unions. Conventional mortgages offer a variety of loan terms, most often ranging from 10 to 30 years, allowing buyers to choose an option that fits their payment goals, whether they want to pay things off quickly with higher monthly payments or prefer the stability of long-term payments.
Our team will work with you to evaluate your financial standing and help match you with the right loan type for your goals. It’s important to note that a conventional loan will typically require you to have a higher credit score, make a down payment of at least 3%, have a specific debit-to-income (DTI) ratio, and be able to prove that you have stable income to make your monthly payments.
Whether you’re a first-time buyer or you’re looking to upgrade to a new home, a conventional mortgage could offer the flexibility and affordability you need. Reach out to our team today to find out more!
At Steve Owens Home Loans – MIG, we help clients find conventional mortgages in Greensboro, Thomasville, Lexington, Asheboro, Mebane, Graham, Burlington, Lewisville, Clemmons, Summerfield, Oak Ridge, Winston-Salem, Kernersville, and High Point, North Carolina.
