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Conventional Home Loan

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What is a Conventional Home Loan?

Conventional home loans are the most common type of home loans in America. Conventional home loans are mortgage loans that are available from and guaranteed by private lenders. Conventional home loans have many options for borrowers, they can be Fixed or adjustable rate. Fixed rate mortgages have a set rate for the entire term of the home loan, whether that is 10 or 30 years. Adjustable rate mortgages, also know as ARM, have a term of 30-years with a low introductory rate for a defined period of time and increased periodically as the loan matures.

If you would like to learn more about Conventional Home Loans and their requirements you can call one of our Conventional Home Loan Experts at (303) 947-5147.

Most Common Home Loan

Approximately two-thirds of mortgages in America are conventional home loans.

Backed by Private Lenders

Conventional home loans are not back by any government agencies, and therefore backed by private lenders.

Interest Rate Options

Borrowers are able to choose between Fixed and Adjustable Rates

Credit Score Requirements

A minimum credit score requirement of 680 or higher.

Michael Joseph DelVecchio (CO:100013058 NMLS:195236) is an agent of Draper and Kramer Mortgage Corp. (NMLS:2551) an Illinois Residential Mortgage Licensee located at 1431 Opus Place, Suite 200, Downers Grove, IL 60515, 630-376-2100. CO: Mortgage Company Registration – Regulated by the Division of Real Estate - www.dora.state.co.us/real-estate. © 2019 Draper and Kramer Mortgage Corp. All Rights Reserved. Privacy Policy | Licensing | NMLS Consumer Access