When purchasing a home, this is the program that most people think of and first. Over the years Fannie Mae and Freddie Mac, guideline setter for conventional financing, have made major changes in program options and have become more aggressive in the types of loan programs offered.
Both Fannie Mae and Freddie Mac programs are credit score driven and requirements for conventional loan qualification require higher credit scores, the down payment requirements have changed considerably. Conventional loan programs now offer loans with down payments as low as 3% down payment and lower MI payments.
What program is the best to finance your home? Give us a call and discuss what mortgage options are available and best for you.