If other financial vehicles are not an option for you or you would like more flexibility with your financing then a Conventional home loan or multi-family home loan maybe the right answer. Conventional financing has a variety of downpayment options and most common are 5%, 10%, 15%, or 20% – higher down payments can always be achieved depending on individual situations. Also, it should be noted that Conventional loans can be either conforming or nonconforming based on loan amount and area which are governed by Fannie Mac (Fannie Mae & Freddie Mac guidelines).
Conforming Loan: Conforming loans are loans that meet (conform) to Fannie Mac guidelines that are based on loan limit. These loan limits tend vary from County to County but the range is under $417k. Conforming loans typically have a lower interest rate because the loan conforms to those specific guidelines.
Non Conforming Loan: Nonconforming loans are loans that don’t meet Fannie Mac guidelines and an example is Jumbo loans. While Jumbo loans (over $417k) are nonconforming, they are still allowed to be sold to Fannie Mac or other investors as long as the loan meets certain standards.
Quick Search: View All Conventional Qualifying Homes
Truly a Great, Build-Ready Lot, complete with home plans, septic permit and more! Cozy third of an acre that backs to a stunning creek can be the perfect space for your n...
Listing courtesy of Professional Realty Services.
[5 BEDS/3 BATH 2nd KITCHEN LL with SEP ENTRANCE both floors rented 5800.00 total - Exquisite renovation in this home perfectly perched on an oversized FULLY FENCED lot. E...
Listing courtesy of eXp Realty.
Highly desired ONE LEVEL living with the luxury of a TOP FLOOR, CORNER unit with South & East views. 10’ ceilings, beautiful light & Mt views from this 2-Bed/1.75-Bath/1,...
Listing courtesy of RE/MAX Town Center.
Discover a Lake Stevens gem with this fully renovated 3-bed rambler. Enjoy elegant one-level living in the open concept layout featuring granite counters, farmhouse kitch...
Listing courtesy of Coldwell Banker Bain.
Beautiful and affordable 2 bed 1 bath single wide with real hardwood floors, tile counter tops, newer carpets throughout and newer roof! Open entry to dining room and lar...
Listing courtesy of HomeSmart One Realty.
Contact Joy Blodgett to discuss the best home loan option for your purchase, if you're wanting to refinance, pull cash out, or do a new construction home loan by clicking here.