Conventional Loans

LOAN OPTIONS

Conventional Loans

Aerial view of a neighborhood
Aerial view of a neighborhood

LOAN OPTIONS

Conventional Loans

Get Conventional

 

Conventional mortgages are a great choice for many homeowners because they offer lower costs than some other popular loan types. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types. With a variety of options and with excellent advantages for qualified borrowers, a conventional mortgage might be right for you.

Benefits of Conventional Qualifying

  • A range of down payment options
  • Advantages for higher down payments
  • Option to eliminate mortgage insurance with a 20% down payment
  • Financing for properties commonly restricted by government
  • Second home mortgage options available
  • Adjustable rate mortgages
young couple discussing documents

Need Down Payment Options? Here Are A Few Conventional Low Down Payment Options:

Fannie Mae HomeReady

HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing for first-time homebuyers and 95% financing options for non-first time homebuyers.

Freddie Mac Home Possible & Home Possible Advantage

Designed for low-to-moderate income homebuyers and/or individuals purchasing or refinancing properties in target areas. Maximum financing (LTV/CLTV) and minimum credit score requirements are determined based on the loan product type. Private Mortgage Insurance (PMI) is required on conventional loans with an LTV > 80%.

Conventional loans generally offer lower costs than other loan types, and if you meet credit score requirements and have a down payment of at least 3%, a conventional mortgage might be the best solution for you. Contact us to help you decide if this is the best fit for your situation.

Locate a Mortgage Loan Officer near you.

Find a Mortgage Loan Officer

Need help? Give us a call.

800.327.9862

We’ll get right back to you.

Send Email
United Bank is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Reserve, Federal Reserve Consumer Help, PO Box 1200, Minneapolis, MN 55480.
This is not a commitment to lend. Mortgage products and services are offered through United Bank. All loan applications are subject to credit and property approval and must meet loan program requirements to qualify. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without notice and may vary depending upon credit history and transaction specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required.  Speak with a Mortgage Loan Officer for more specific information.
United Bank and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.