What is a Conventional Loan?

Conventional loans are not backed by the government. They are ideal for borrowers who have good or excellent credit and good debt-to-income ratio. Such loans typically require down payments, closing costs, mortgage insurance, and points, so buyers have to bring a chunk of cash to closing.

While it is easier to qualify for a conventional loan, buyers need excellent credit to receive the best interest rates.

Contact Team Dawn with any of your Mortgage needs:
Dawn Symington
(586)254-5711
dsymington@mortgageone.com
Company NMLS #129386
NMLS #102706

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