Conventional Loans

Conventional loans are the mortgage standard. These loans fit within the guidelines of Fannie Mae and Freddie Mac. First-time homebuyers will find this product great as their mortgage insurance will eventually drop off. For most borrowers, this will be the best and easiest option.
Minimum Down Payment: 5% (unless you're a first-time homebuyer, then it is 3%).
Minimum Credit Score: 620
Easy & Fast!
Example scenario
Purchase Price $400,000
Loan Amount $380,000
Down Payment $20,000 (5%)
Credit Score of 720