These days, Conventional mortgage loans are ideal for borrowers looking to put at least a 20% down payment on a home. Since the Sub-Prime crash, conventional mortgages have been replaced with government financing (FHA, VA, USDA) due to the attractive down-payments and lower interest rates.

A conventional mortgage loan has a maximum loan amount of $417,000, and after a 20% down payment, there is no monthly mortgage insurance premium. On a conventional purchase transaction, the seller is allowed to pay up to 3% of the buyer's costs. After a down payment of 10% or more, the seller can contribute up to 6%.

Conventional loans are very popular with investors that are looking to buy investment properties, as it is uncommon with other financing types. Please contact us to learn more details about this.

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