Who's it for?
Homebuyers who don’t want to add mortgage insurance to their payments
Homebuyers with a 20% down payment
Homebuyers shopping for properties commonly restricted by government loans
Refinancers who want to drop mortgage insurance
Advantages Of a strong down payment
Directors Mortgage conventional loans come in a variety of options and with excellent advantages for borrowers who have a strong down payment. Under a conventional loan, a borrower with a 20% down payment or 20% equity can eliminate mortgage insurance.
no property type restrictions
While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types. If you can’t afford the 20% down payment, you can still get a conventional loan with as little as a 3% down payment.