Conventional Loans
Secure Your Future with a Conventional Loan
Explore Affordable and Reliable Home Financing Options with Carlin Mortgage Group
Why Choose a Conventional Loan?
Conventional loans are a popular choice for homebuyers seeking flexibility and competitive interest rates. Here’s why they could be the right option for you.
- Lower Down Payments. With as little as 3% down, you can own your home sooner.
- Flexible Terms. Choose from a variety of loan terms, including 15, 20, and 30 years.
- No Mortgage Insurance Options. If you have a larger down payment, you may qualify to avoid paying mortgage insurance.
- Fixed or Adjustable Rates. Whether you prefer the stability of a fixed rate or the potential savings of an adjustable rate, conventional loans offer both.
A conventional loan from Carlin Mortgage Group provides you with the options, flexibility, and affordability you need to make your homeownership dreams come true.
How to Qualify for a Conventional Loan
Understanding the requirements for a conventional loan is the first step toward securing your new home. At Carlin Mortgage Group, we’re here to guide you through the process. Here are the key factors to consider.
- Credit Score. A credit score of 620 or higher is typically required. The higher your score, the more favorable your loan terms.
- Income & Employment. Lenders will review your steady income and employment history to ensure you can manage monthly payments.
- Debt-to-Income Ratio (DTI). A lower DTI ratio improves your chances of approval. Most lenders prefer a DTI of 43% or less.
- Down Payment. While 3% is the minimum down payment for first-time homebuyers, putting down more can help you secure better terms.
- Property Appraisal. The property you intend to buy must meet the lender’s criteria and be appraised for its fair market value.
Ready to see if you qualify? Get in touch with Carlin Mortgage Group to start your application today!
The Benefits of a Conventional Loan
Choosing a conventional loan from Carlin Mortgage Group comes with several advantages that can make your home buying experience smoother and more affordable. Here’s what sets it apart.
- Competitive Interest Rates. Conventional loans often offer lower interest rates compared to other loan types, saving you money over time.
- No Upfront Mortgage Insurance (PMI) for Larger Down Payments. If you can put down 20% or more, you can avoid paying Private Mortgage Insurance (PMI), reducing your monthly payments.
- More Loan Options. With a conventional loan, you can borrow more for your home purchase, making it easier to find a property that fits your needs.
- Long-Term Stability. Fixed-rate conventional loans provide predictable monthly payments and peace of mind, knowing your interest rate will never change.
At Carlin Mortgage Group, we are committed to helping you secure a conventional loan that works for your budget and long-term goals. Let us help you make the right choice for your future.
Start Your Journey with Carlin Mortgage Group
Ready to take the next step in securing your dream home? At Carlin Mortgage Group, we’re here to simplify the mortgage process and provide you with the expert guidance you need. Whether you’re a first-time homebuyer or looking to refinance, we offer.
