Northern Mortgage
What is a conventional loan?
HELPING YOU AND YOUR FAMILY FIND A FOREVER HOME.
AT A GLANCE:
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- Conventional loans are the most accessible home loan type. They offer lots of flexibility for your personal situation.
- While there are exceptions, conventional loans are best suited for most borrowers with stable income and a good credit history.
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Compared to other loan types, conventional loans may be easier to qualify for.
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WHAT ARE THE BENEFITS OF A CONVENTIONAL LOAN?
Conventional loans at Northern are great for the average buyer, as they often allow:
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-
-
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- Down payments as low as 3%
- Credit scores as low as 620
- More flexible qualification (government-backed loans have additional requirements)
- No private mortgage insurance for down payments above 20%
-
-
-
HELPING YOU AND YOUR FAMILY FIND A FOREVER HOME.
AT A GLANCE:
-
-
-
- Conventional loans are the most accessible home loan type. They offer lots of flexibility for your personal situation.
- While there are exceptions, conventional loans are best suited for most borrowers with stable income and a good credit history.
-
Compared to other loan types, conventional Loans may be easier to qualify for.
-
-
WHAT ARE THE BENEFITS OF A CONVENTIONAL LOAN?
Conventional loans at Northern are great for the average buyer, as they often allow:
-
-
-
-
- Down payments as low as 3%
- Credit scores as low as 620
- More flexible qualification (government-backed loans have additional requirements)
- No private mortgage insurance for down payments above 20%
-
-
-
WHAT’S THE NEXT STEP?
Before you begin shopping for homes, contact a Loan Officer! Even if you’re not ready to buy today, they’ll give you the information and resources you need to move forward with confidence.
If you’re ready to purchase a home, your offer will become stronger with a pre-approval from Northern Mortgage. No matter your lender, a pre-approval is highly recommended.
In order to apply, you’ll need to collect several documents, including proof of income and assets (e.g. bank statements, etc.), employment verification, and identity verification.
You’re more than welcome to reach out to any of Northern Mortgage’s licensed loan officers with any questions you have!
* No guarantees or offers to lend implied. Contact a licensed loan officer for additional details or to determine eligibility.
Reviews worth sharing.
Real People. Real Results
Our final mortgage was a full 0.5% below any of the nearest competitors! But the real deciding factor was the service from our Loan Officer. They SHOWED his skill by talking straight business. In the end, they exceeded all expectations. They focus on DELIVERING quality. You will be well rewarded with the honest help they can offer.
Simply put, the team at Northern Mortgage did the work and made the difference for my wife and I. They were so clear and always felt like they were in our side. Truly felt like a blessing working with them.
Welcome home.
Northern Mortgage
Our H0urs
Monday-Friday: 8:30a-5:30p or by Appointment