Conventional Loans

Conventional Loans are mortgage loans that are not insured by the government (like FHA, VA, USDA Loans), but they typically meet the lending guidelines that have been set by Fannie Mae or Freddie Mac. Typically, conventional loans have better rates, terms and/or lower fees than other types of loans. However, conventional loans typically require a borrower to have good-to-excellent credit, reasonable amounts of monthly debt obligations, a down payment of 5-20% and reliable monthly income. Conventional loans are ideal for borrowers with excellent credit and at least a 5% down payment.

With a conventional mortgage loan, borrowers have more flexibility in terms of loan amount, repayment terms, and interest rates. They can choose from fixed-rate or adjustable-rate mortgages, and they have the ability to customize their loan terms to fit their financial goals.

At Quintal Mortgage Co, we offer competitive rates and personalized service for conforming loans. Our experienced loan officers can guide you through the application process and help you find the right loan option for your needs.

Contact us to learn more about conventional loans and how we can assist you.

For Purchase transactions Conventional Loans require the home-buyer to put down at least 5% - 20% of the purchase price of the home. For a Refinance transaction, most lenders require at least 10% equity in the property.

Most conventional loan programs allow you to purchase single-family homes, warrantable condos, planned unit developments, and 1-4 family residences. A conventional loan can also be used to finance a primary residence, second home and investment property.