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Snohomish County Conventional Financing Information
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.
What Homes Qualify for Conventional Financing?
- Homes that need repairs.
- Investment and multi-family properties.
- Unique homes that don’t meet FHA, VA or USDA guidelines.
Quick Search: View All Conventional Qualifying Homes
Conventional Qualifying Homes
The perfect blend of space, comfort & flexibility in the Beaumont Community! This beautifully designed 5-bedroom, 2.75-bath home offers an exceptional floor plan for mult...
- 5 Beds
- 3 Baths
- 2573708 MLS
- ACTIVE Status
- 2,928 SqFt.
- 5,227 Sqft. Lot
Listing courtesy of Windermere RE North, Inc..
Welcome home to this beautifully updated ground floor condo, where thoughtful improvements and stylish finishes make every square foot shine. This inviting 1-bedroom, 1-b...
- 2 Beds
- 1 Baths
- 2579824 MLS
- ACTIVE Status
- 710 SqFt.
Listing courtesy of Windermere Real Estate/East.
Nearly new and thoughtfully upgraded, this 2023-built home offers abundant natural light, an open-concept design, and 2,501 SF of beautifully finished living space in a c...
- 4 Beds
- 3 Baths
- 2577032 MLS
- ACTIVE Status
- 2,501 SqFt.
- 3,920 Sqft. Lot
Listing courtesy of Engel & Voelkers Mercer Island.
Tucked into the trees of Picnic Point, just minutes from the beach and Puget Sound, this distinctive home captures the relaxed Northwest lifestyle that makes this corner ...
- 4 Beds
- 3 Baths
- 2579030 MLS
- ACTIVE Status
- 2,348 SqFt.
- 9,148 Sqft. Lot
Listing courtesy of John L Scott Madrona Group.
Welcome to this charming single-story home, perfectly situated on a quiet street with a spacious, level 16,000+ square foot lot. Offering an abundance of open space, wond...
- 3 Beds
- 2 Baths
- 2580636 MLS
- ACTIVE Status
- 1,613 SqFt.
- 16,553 Sqft. Lot
Listing courtesy of Windermere RE North, Inc..
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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