What is Conventional Financing? - PowerPoint PPT Presentation

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Title:

What is Conventional Financing?

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In this discussion we will discuss what conventional financing is and some of its features. – PowerPoint PPT presentation

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Provided by: dunhillhomes
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Title: What is Conventional Financing?


1
What is conventional financing?
  • Dunhill Homes

2
What is it?
  • Conventional loans are loans that follow
    guidelines set by Fannie Mae and Freddie Mac

3
Features
  • Often, conventional loans require a FICO score
    of 720 or higher
  • Exceptions can be made
  • Requires a down-payment of at least 5
  • A down payment lower than 20 will require
    mortgage insurance
  • Loan limits vary by area, but 417,000 is common
    in many areas

4
Get more information
  • Loan program guidelines vary and can be
    confusing. It is a good idea to go over loan
    options and specifics with a Loan Officer

5
  • Thank you.
  • To learn more please visit http//www.dunhillhome
    s.com/blog/what-is-conventional-financing/
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