About Conventional Loan
A conventional loan is a more traditional option for home financing. With down payment options as low as 3% with Private Mortgage Insurance and a loan limit of $424,100, there are several loan scenarios that can be tailor made to fit your needs. A conventional loan can have a wide range of term options. Fixed rate options range from 10, 15, and 30 year terms. Adjustable Rate mortgages can range from 3/1, 5/1, 7/1, or 10/1 year options, and amortized over 30 years.