Conventional Purchase Loans
Want flexible down payment options? Conventional loans offer a wide range of choices with great benefits for qualified buyers. Unlike some government loans, conventional financing can be used on nearly any property type, giving you more freedom when house hunting.
Low Down Payment Options
If you’re short on cash for a big down payment, these programs can help.
Fannie Mae HomeReady
A fixed-rate program for qualified low-to-moderate income buyers with as little as 3% down.
Freddie Mac Home Possible and Home Possible Advantage
Designed for buyers with limited income or those purchasing in eligible areas, offering low down payment options with flexible guidelines.
Loan limits, credit score requirements, and maximum financing vary by program.
Private mortgage insurance is required when putting less than 20% down, but it can be removed once enough equity is built.
Empowering you with options
Financing your home doesn’t necessarily have to be a complicated process. At Quintessential Mortgage Group, we ensure you’re involved in the financing and purchasing of a home. Our team has earned a reputation as being knowledgeable in various types of home financing, especially conventional loans. It’s a great option for those with an optimal credit score and little debt.
The QMG Experience
Our mortgage loan originators are committed to helping you obtain the best conventional loan terms. We can do this because we work with many providers to get you the best loan at the best rates available.
Conventional loans, for example, offer advantages for some borrowers over government-insured or government-backed loans, such as those backed by the Federal Housing Administration or by the U.S. Department of Veterans Affairs. Advantages outlined below include :
- Financing allowed for the purchase of a second home
- Low down payments that can include gifts received from others
- No restrictions for first-time buyers
- Buyers may have someone cosign the loan with them
Our years of experience provide us with the best insight on how to advise borrowers and assist them with any questions they might have.
*Loans Subject to Credit, Property and Underwriting Approval by Third-Party Mortgage Lenders. All mortgage loan applications are subject to credit and property approval, along with other underwriting rules and requirements. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations may apply.