Features of Conventional loan:
Conventional mortgages typically require higher credit scores and down payments compared to government-backed loans. They offer flexibility in terms of loan terms, allowing borrowers to choose between fixed-rate and adjustable-rate options.
Benefits:
Here are some of the benefits of working with us:
- It comes with competitive interest rates.
- Lower monthly payments with competitive rates
- Customizable loan terms to fit your budget
- Savings potential with no requirement for mortgage insurance.
- The best option for borrowers with strong credit histories.
Flexibility
With a conventional mortgage, borrowers have the flexibility to choose from various loan terms, including 15-year, 20-year, and 30-year options. This allows borrowers to customize their mortgage to fit their financial goals and budget. From prequalification to closing, we provide support for a stress-free experience.
No Mortgage Insurance Requirement
Unlike FHA loans, conventional mortgages do not require mortgage insurance if the borrower makes a down payment of at least 20% of the home’s purchase price. This can result in lower monthly payments for borrowers. Our mortgage experts guide you in the mortgage process.
Customized Solutions
Based on your financial profile and homeownership goals, we work with you to customize a conventional mortgage solution that meets your needs. Whether you’re a first-time homebuyer or a seasoned homeowner, Impact Mortgage has options for you.
Other Services
At Impact Mortgage, we believe everyone deserves a place to call home. Get started today!
Prequalification:
After understanding your needs, we’ll help you get prequalified. This involves reviewing your finances to estimate how much you can borrow and what type of loan might be best for you.
Loan Processing:
After submitting your application, our team will process it. We’ll verify the information provided, conduct a property appraisal, and review your credit history.
Loan
Approval:
Upon approval, you’ll receive a formal loan commitment outlining
the terms and
conditions of
the mortgage.
Closing:
Finally, we’ll schedule a closing meeting where you’ll sign the necessary paperwork to finalize the loan. Once completed, you’ll officially become a homeowner!
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