Conventional Loans are mortgage loans offered by non-government sponsored lenders and conform to guidelines set by Fannie Mae (FNMA) or Freddie Mac (FHLMC). Conventional loans can be done on primary occupancy homes, second homes and investment properties. Every year, Fannie Mae and Freddie Mac establish loan limits for Conventional Loans.
Conforming Loan Limits:
|Number of Units||Maximum original principal balance|
Age In Place Mortgage Company offers fixed rate and adjustable rate options with 10, 15, 20, 25 and 30 year term options. Below are some of the Conventional Loan Programs we offer with a minimum 620 credit score:
- 95% fixed rate financing for Owner Occupied Primary Residence, 3% of borrowers own funds, 2% or more gift is ok.
- 90% fixed rate financing for 2nd Homes and Vacation Homes
- 80% fixed rate financing, NO Mortgage Insurance, 20% gift ok for Owner Occupied Primary Residence
- 85% fixed rate financing for Investment Properties
- 85% fixed rate Cash-out refinancing for Primary Residence
- 75% fixed rate Cash-out refinancing for 2nd homes and Investment Properties
Lynn Chase is a licensed Colorado Mortgage Loan Originator (number 100014632) and Nationwide Mortgage Licensing System number 1651156.
Lynn is the founder and broker-owner of The Commercial Loan Arranger, LLC, licensed by the State of Colorado, and is doing business under the registered trade name of the Age In Place Mortgage Company. The company Nationwide Mortgage Licensing System number NMLS #1790945
The company headquarters is located at 913 Dancing Horse Drive, Colorado Springs, Colorado 80919, and Lynn can be reached at (719) 302-5508 or Lynn@AgeInPlaceMortgage.com
© Copywrite by Professor Lynn Chase