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CONVENTIONAL PURCHASE LOANS

REWARDS OF CONVENTIONAL QUALIFYING

A range of down payment options

Advantages for higher down payments

Option to eliminate mortgage insurance with a 20% down payment

Financing for properties commonly restricted by government loans

GET CONVENTIONAL

ESCO Mortgage Advisors conventional loans come in a variety of options and with excellent advantages for qualified borrowers. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types.

SHORT ON DOWN PAYMENT? HERE ARE A FEW CONVENTIONAL LOW DOWN PAYMENT OPTIONS:

Fannie Mae HomeReady

HomeReady is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing.

Freddie Mac Home Possible & Home Possible Advantage         

Designed for low-to-moderate income homebuyers and/or individuals purchasing or refinancing properties in target areas.

Maximum financing (LTV/CLTV) and minimum credit score requirements are determined based on the loan product type

Private Mortgage Insurance (PMI) is required on conventional loans with an LTV > 80%.

Talk to your ESCO Mortgage Advisors, mortgage advisor, to clarify what qualifies as a condo and which loan program may best meet your needs.