We offer conventional first mortgages in all 50 states. If you are financing outside of our standard lending area of PA, NJ, DE, MD, or FL, please call a Mortgage.

A conventional mortgage is any type of home buyer’s loan that is not offered or secured by a government entity, but instead is available through a private lender.

Benefits of a conventional loan. conventional mortgage loans usually require less documentation than FHA loans, which may speed up the overall processing time. With a down payment of 20% or more, you won’t be required to have mortgage insurance. Unlike FHA loans, you can use a conventional loan to purchase a second home or an investment property.

Va First Time Home Buyer First Time Home Buyers Why a VA Loan is perfect for first time buyers. Buying your first home can be a very rewarding experience. As a first time buyer, there is a lot you need to know and selecting the right loan is definitely one of them.

First Mortgage Loans. Rates last updated: 05/23/2019 10:11 AM. *APR = Annual Percentage rate. interest rates shown are for conventional fixed rate mortgage.

Bottom line. Conventional loans offer a wealth of benefits and are the most used type of home loan used today. Whether you are planning to occupy the property, buying a second home, or an investment property a conventional mortgage is a great option.

Known as the Chenoa fund conventional loan Program, the initiative is a 3.5% second mortgage. The borrower receives a market competitive interest rate on the first mortgage. The Down Payment.

Conventional Loan Limits 2018 This loan structure uses a conventional loan as the first mortgage (80% of the purchase price), a simultaneous second mortgage (10% of the purchase price), and a 10% homebuyer down payment. The combination of both loans can help you avoid PMI, because the lender considers the second loan as part of your down payment.

A first mortgage and second mortgage have a primary element in common: They are both loans that are financed with your home as collateral. The term "first mortgage" refers to the original loan you.

Riverbank Finance LLC is a Michigan mortgage company in Grand Rapids, MI specializing in mortgage home loans for both refinancing and new home purchase mortgages. Our extensive list of mortgage programs allows us to offer some of the lowest mortgage rates in the industry. We hire only the best licensed loan officers to serve our clients and take pride in our superb customer service.

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