Conventional Loans

Conventional loans are Mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.  When deciding if a Conventional Loan is best for you, we will typically look at the following:

  • Credit Score – typically would like to be above 620
  • Debt to income ratio
  • Ability to put money down on the purchase – typically between 5% and 20%

Conventional Loans can be used for the purchase and refinance of the following property types:

  • 1-4 Unit Properties
  • Modular Properties
  • Planned Unit Development Properties

While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options.  We offer down payments as low as 3% and no PMI with 5% down.  We are located in Columbia, SC but offer Mortgages in Columbia, Lexington, Blythewood, the surrounding areas, as well as the entire State of South Carolina.  For more information, please complete the Quick Quote form to the right or call us at 803 261 9267!  We charge NO FEES, can typically beat ANYONE’S RATE, and you will see we offer unbeatable service.  Please call today!