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

Why use The Cain Mortgage Team for a Conventional Loan?

When looking for a Conventional loan, most people are looking for a great rate, service with a personal touch, and an easy process.  With The Cain Mortgage Team, we can typically match or beat most companies rates and no one will beat our service.  As you can see from over 100 of our 5 star reviews online, our clients experience was second to none!  Everyone has the cell phone number as the primary point of contact and are able, and encouraged, to call or text this number at any time.  This makes communication simple, eliminates any misunderstandings and provides for a very smooth experience.  So, when shopping for a Conventional Loan, give us a call to see how we treat everyone like a long term relationship, no just a transaction.

 

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!