Conventional loans are the most popular mortgage product. Conventional loans fit within the loan limit set by the Federal Housing Finance Agency for your area (currently set to $510,400). I know, boring! Lets get to the good stuff.
- Buyers with excellent credit
- Those with 3% minimum saved up for a down payment
- Individuals with no major derogatory credit (i.e. foreclosures, bankruptcies, etc.)
- More buying power over FHA