FDIC-Insured - Backed by the full faith and credit of the U.S. Government15 and 30 Year Conventional Loans
Conventional Loans
Most common loan type
3% down payment for first-time homebuyer
3-19.99% down requires Mortgage Insurance
Mortgage Insurance determined by credit score/ Loan-to-Value / loan size
Mortgage Insurance drops off at 20% equity
Debit-to-Income up to 50%
HomeReady/Home Possible, benefit in rate and Mortgage Insurance
*The examples above are an outline of the general terms and conditions for the programs. All loans are subject to credit, property and underwriting approval. The offerings, terms and conditions are subject to change without notice.