Conventional Loans

Your home loan product offerings would not be complete without the foundation of conventional home loans for your customers.

  • Simply a loan that is not issued or insured by a federal agency
  • Usually a 30-year fixed rate term
  • Typically requires at least a 10 - 25% down payment, but can go as low as 3% for first-time home buyers
  • Requiring larger down payments, conventional loans may offer better interest rates than non-conventional loans
  • Loans with less than a 20% down payment may require private mortgage insurance (PMI)

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© Copyright 1997-2023 Community Bankers Mortgage, a division of Colonial Savings, F.A. NMLS 401285. All Rights Reserved. Rates and terms subject to change without notice. This is not a firm offer or notice of pre-approval. All applicants are assessed following a completed application and request for credit. All loans subject to underwriting and credit approval.

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