Versatile Options for Every Homebuyer
Conventional loans are a popular choice for many homebuyers. With fixed or adjustable interest rates and various term lengths, these loans can be tailored to fit your financial situation. At BrambleFin, we offer personalized guidance to help you understand the benefits of conventional loans and find the perfect option for your homeownership goals.
Conventional Loan Features
| Feature | Conventional Loan |
|---|---|
| Down Payment Requirements | Minimum of 5% (can vary) |
| Credit Score Requirements | Typically 620+ |
| Mortgage Insurance | Required if down payment < 20% (PMI) |
| Loan Limits | Up to $726,200 in most areas |
| Interest Rates | Generally slightly higher |
| Eligible Properties | Primary, secondary, and investment homes |
FHA Loan Features
| Feature | FHA Loan |
|---|---|
| Down Payment Requirements | Minimum of 3.5% |
| Credit Score Requirements | Typically 580+ |
| Mortgage Insurance | Required (MIP) |
| Loan Limits | Varies by county, up to $472,030 |
| Interest Rates | Often lower than conventional rates |
| Eligible Properties | Primarily for primary residences only |
VA Loan Features
| Feature | VA Loan |
|---|---|
| Down Payment Requirements | No down payment required |
| Credit Score Requirements | Typically 580+ |
| Mortgage Insurance | Not required |
| Loan Limits | Up to $1.4 million or more in some areas |
| Interest Rates | Competitive, often lower than FHA |
| Eligible Properties | Primarily for primary residences |
"Looking for flexibility in your mortgage? [Schedule a Free Consultation] to find the best conventional loan for you!"