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CONVENTIONAL HOME Loans & MORTGAGES - ARE THEY RIGHT FOR YOU?
NASHVILLE HOME LENDER IS HIGHLY TRUSTED BY OUR CLIENTS FOR THEIR CLARKSVILLE & NASHVILLE TN CONVENTIONAL HOME LOANS & MORTGAGES
Welcome to Nashville Home Lender! We are leading Clarksville & Nashville TN Conventional Mortgage Lenders, and for good reason. We have helped many families and individuals in Tennessee cities like Nashville, Clarksville, Madison, Murfreesboro, Jackson, and Smyrna achieve their dream of home ownership through conventional mortgage home loans serviced through the HomeTown Lenders, Inc Clarksville, TN Branch. We also offer conventional home loans and mortgages to residents of the following states: Tennessee, Kentucky, Texas and Colorado.
Contact us for your Conventional Home Loans & Mortgage needs. We will help you get the information you need to know to get prequalified or start your Conventional Mortgage Loan Application.
What is a conventional mortgage loan?
Is it the right choice for you and your financial situation?
What makes a conventional home loan a great choice?
Learn More Below.
What is A Conventional Mortgage Loan?
Conventional or conforming loans refer to any mortgage that is not insured by the federal government. These types of mortgages follow the terms and conditions set by Fannie Mae and Freddie Mac. They are government sponsored institutions who are the largest purchasers of mortgages in the United States. These loans have stricter qualifying guidelines compared to government insured loans. High credit scores are recommended for this program since it will directly impact your monthly mortgage payment. Your debt to income ratio is also carefully reviewed and needs to be below 45%. A common misconception about conventional mortgages is that a 20% down payment is required in order to qualify. The reality is conventional financing allows for 3% down payment when used in combination with monthly mortgage insurance.
Why Are Conventional Home Loans And Mortgages A Great Deal?
Conventional Loans are one of the best options for prospective borrowers with a high credit scores. By having a higher credit score additional benefits become available like no mortgage insurance, lower down payments, and more competitive pricing. When considering a new home loan conventional financing should be at the top of the list if you have above average credit, a larger down payment, or would like to avoid the additional cost sometimes associated with government insured loans.
What Are the Advantages of A Conventional Loan?
- Competitive Pricing
- No Prepayment Penalty Ever
- No Mortgage Insurance Option
- Up To 45% Debt To Income Ratio
- Allows for 3% Seller Paid Closing Costs
What Are The Waiting Periods After A Hardship
- 4 Years from Foreclosure or Short Sale
- 4 Years from Discharge of Chapter 7 Bankruptcy
- 2 Years from Discharge of Chapter 13 Bankruptcy
WHAT ARE SOME POPULAR CONVENTIONAL Home Loans & MORTGAGE PROGRAMS?
Conventional Purchase
- Loan amounts to $417K
- 3%, 5%, 10% or 20% down
- Don’t have to be 1st time buyer
- With or without mortgage insurance
Conventional Refinance
- Competitive interest rates
- Loan amounts up to $417K
- 30yr, 25yr, 20yr, 15yr, or 10yr
- Fixed or adjustable rates available
Conventional Cashout
- Up to 80% LTV
- Competitive interest rates
- Payoff a 2nd mortgage or HELOC
- Cashout to payoff high interest debt
A Diverse and Comprehensive Line of Loan Products to Fit Everyone's needs.
FHA LOANS
Down to a 580 Credit Score
VA HOME LOANS
Down to a 580 Credit Score
USDA LOANS
Down to a 580 Credit Score
CONVENTIONAL
Down to a 620 Credit Score
FHA
203K Loans
Down to a 620 Credit Score
Construction to Permanent
Down to a 620 Credit Score
FHA/VA/USDA
Conventional
Manufactured Home
Loans Available
Down Payment
Assistance
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5% 1% 4% Principal & Interest $1421 Monthly Taxes $1421 Monthly Insurance $1421
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Hometown Lenders Helping You Achieve Your Dreams
Contact Us Today To Get Prequalified for Your Conventional Home Loan
We pride ourselves in making your home financing experience as easy and affordable
as possible. Our service is second to none.
