Conventional Home Loans

• Low down payment required (3 percent minimum), however the Mortgage Insurance may be higher. 5 percent down is the norm.
• Mortgage insurance is required for loans exceeding 80 percent loan-to-value
• Conventional mortgage insurance is only monthly or single premium
• Conventional mortgage insurance will automatically end at 78 percent loan-to-value or can be requested to be removed when the loan-to value hits 80%
• Conventional mortgage insurance is credit sensitive
• Can go as low as 620 Credit score
• Conventional loans can cover much higher loan amounts
• Even though conventional loans may have higher interest rates, their monthly payments may still be lower.