What's a
Conventional Mortgage?
A conventional
mortgage is a loan agreed upon between you and the lender, without any government
intervention. Usually, you are required to pay 20% of the value of the property up front,
then they will loan you the other 80%. If you agree to get Private Mortgage Insurance, you
may get the lending institution to come down to 5%. That way you get 95% of the property's
cost! The insurance covers the lender if the deal goes bad. It also shows your commitment
to the lending company.
[ Can I Get Financing for a Government Owned Home? ]
[ What If I Filed Bankruptcy? ]
[ Am I Eligible For Financing A Home? ]
[ Where Do I Go to Get a Mortgage Loan? ]
[ What's a Conventional Mortgage? ]
[ What is an Adjustable Rate Mortgage (ARM)? ]
[ What Are the Benefits of an FHA Mortgage? ]
[ What's so Great About VA Mortgages? ]
[ Who Qualifies For a VA Mortgage? ]
[ What's the Difference Between a Lease Option and a Land Contract? ]
[ What is a Balloon Mortgage? ]
[ What Should I Bring When I Apply? ]
[ "When I Apply, What Helps Me, and What Hurts Me?" ]
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