Conventional Mortgage Loans are usually the first choice for borrowers with excellent credit. Conventional mortgage loans typically require a minimum down-payment of 5% and requires mortgage insurance if the down payment is less than 20%. Conventional loans can have fixed or adjustable rates, the term can be anywhere from 10 to 30 years with a loan limit of $548,250.
While a conventional mortgage loan may be the right choice for you, you should discuss your purchase goals and financial situation with a Benchmark Mortgage Loan Specialist to compare all loan options available to you. We will help you find the best mortgage loan option to meet your personal goals.
Minimum down- payment of 5.00%
Single premium PMI with less than 20% down- payment (avoids monthly private mortgage insurance)
Term lengths from 10 to 30 years
Fixed or adjustable interest rates
Great choice for high credit score borrowers
Benchmark Mortgage Southeast Partners | 100 Concourse Pkwy Suite 130 | Hoover AL 35244 | 205.994.6052
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