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Conventional Home Loans

Often referred to as the “Traditional Mortgage”, a conventional loan is a great way to finance the purchase of a home and will typically appeal to buyers that have good credit and money for a down payment.  If you’re a buyer with less than perfect credit or need a lower down payment option, the conventional loan may not be right for you.  Every loan program has its pros and cons and we will help find the best fit for your situation when we run thru the loan application.

Pros for conventional loan?
  • As little as 3% down for owner occupants
  • For investors; 15% down single family and 25% down 2-4 units
  • Great Rates
  • Low private mortgage insurance (PMI) with good credit
  • PMI monthly premiums “drop off” (must meet requirements)
  • No PMI required if down payment is 20% or more
  • Most lenient appraisal process
  • Appraisal Waivers available
  • Works with down payment assistance programs like MSHDA for people in Michigan
  •  15, 20, & 30 year options are available
  • Ability to finance in renovations with the Conventional Homestyle Loan
Cons to conventional loans
  • Rates are based on credit score; the lower the score the higher the rate
  • 620 is the minimum credit score where other programs allow for lower scores (exception is some averaging of credit scores)
  • PMI premiums can be higher if the credit scores are low
  • Guidelines for a borrower to qualify are stricter compared to other loan programs

 

Conventional loans are one of the best options out there for many home buyers.  Everyone’s situation is different call us today at 269.360.7109 to start the process and figure out the best program for you!

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June Educational Event For Realtors: Tools From the Best

Tools From The Best

Does the tight inventory got you singing the blues?  Need more buyer and seller leads?  Ok that sounds like some internet BS.  We arent selling anything here and there’s no magic bullet, but we sure do know how to grind.  In this lunch and learn / webinar we will share with you what we have learned.  Over the last 5 years Matt Muscat has been interviewing top Realtors and sales Professionals from around the country to find out what’s working for them!  In this fast paced class you will hear a curated list of some of these top tactics that you can implement immediately, and by and large at no cost

Hot Topics We Will Cover

Here is a list of some of the things we will cover during the event:

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