Conventional

Conventional mortgages form the backbone of the American housing market, offering a versatile and widely accessible form of home financing. A key aspect of conventional mortgages is their connection to government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, which play a pivotal role in the mortgage industry.

Fannie Mae and Freddie Mac are responsible for setting the underwriting guidelines that determine what makes a conventional mortgage "conforming." These guidelines encompass credit score requirements, debt-to-income ratios, loan-to-value ratios, and loan limits, providing a standardized framework for lenders across the nation. This consistency ensures that conforming conventional mortgages adhere to a common set of rules, promoting stability and trust in the housing market.

Conventional Mortgages are ideal for borrowers with good credit, stable income, and a solid financial history. They offer a greater choice in terms of loan size, term length, and interest rates. Conventional mortgages can be used for various property types, including single-family homes, condos, and multi-unit properties.

Not sure which loan option is right for you? As a Mortgage Broker, we take a single application and use it to pre-qualify you for a variety of loan types, ensuring you receive the best possible financing solution for your unique situation. With our ClearPath™ application system, you have full transparency and flexibility, allowing you to move forward with confidence.