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
Great opportunity for builders and investors! Nice flat three parcel property B zoned for business located near shops, medical centers and I-5. Ready for a new vision wit...
Listing courtesy of Berkshire Hathaway HS NW.
1430 149th Pl SW, Lynnwood. This Newer Home features 4 bedroom, 2.5 bath, with new carpet and paint throughout. It's in a great neighborhood with easy access to everythin...
Listing courtesy of Coldwell Banker Bain.
Welcome to Front 9! Top floor end unit features stainless steel appliances with granite countertops! Spacious living room has a wood burning fire place right off of priva...
Listing courtesy of John L. Scott Mill Creek.
Welcome to your new outdoor Oasis! This beautiful property offers a low-maintenance landscaped front, side, & back yards which feature an array of mature landscaping, inc...
Listing courtesy of RE/MAX Elite.
In beautiful Lords Hill Park sits this quality built Lindal Cedar Home. The 4.5 acre property is park-like with aged Cedar trees and gorgeous Rhodies. This house is loo...
Listing courtesy of Windermere Real Estate M2 LLC.
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.