Conventional
Conventional Loan
Are you best suited for a Conventional Loan?
Conventional loans are an optimal choice for those looking to make their first home purchase, those who are seasoned buyers, and even owners looking to refinance their existing loan into a more advantageous arrangement.
Fast-tracked approval timing for low fixed and adjustable-rate options are available to you now, call (855)-517-3388 to speak to an industry expert here at Federal First Lending to learn more.
What makes a loan “conventional”?
The guidelines of what constitutes a loan as “conventional” are defined by the two main government-sponsored companies, Fannie Mae and Freddie Mac, who help regulate the loan industry by providing companies money to fund loans. Loans that do not meet their criteria are “non-conventional” loans. Their main guideline is a $647,200 loan size limitation (for most US counties).
For more information on specific standards call the number above or visit: https://www.fhfa.gov/about-fannie-mae-freddie-mac.
For more information on specific standards call the number above or visit: https://www.fhfa.gov/about-fannie-mae-freddie-mac.
