Conventional mortgages are the most popular option for borrowers looking to purchase or refinance a home. Your client may choose between a fixed- and adjustable-rate mortgage with terms ranging from 10 to 30 years. Conventional mortgages are not insured or guaranteed by any government agency and may be sold to Fannie Mae or Freddie Mac.
If your client is looking to make budgeting a breeze, a fixed-rate Conventional loan with a consistent monthly payment might be perfect for them. On the other hand, be sure to tell them about adjustable-rate mortgages too. With an ARM, your client can have lower initial payments that adjust after the fifth, seventh, or tenth year and every two years after for the life of the loan.
We also offer these products:
1Depending on specific loan characteristics.
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