CONVENTIONAL LOAN BENEFITS
FAST LOAN PROCESSING
REDUCED PMI
VARIOUS TERM LENGTHS
LOW INTEREST RATES
DOWN PAYMENT OPTIONS
Conventional mortgage borrowers typically make larger down payments than FHA borrowers, and they tend to have a more secure financial standing and are less likely to default. A larger down payment means lower monthly payments. Plus, with the ever-increasing mortgage insurance premiums on FHA loans, payments for conventional loans that don’t require private mortgage insurance can be much more manageable. In addition, with a conventional loan, you can cancel your mortgage insurance when the principal loan balance drops to 78% of the home’s value. FHA loans charge mortgage insurance premiums for the life of the loan.
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