Conventional Loans
A conventional mortgage is a loan that is not guaranteed or insured by any government agency. It is typically fixed in its terms and rate from 10 to 30 years amortization.
- Minimum 5% Down Payment
- A 20% Down Payment is one way to avoid paying Private Mortgage Insurance (PMI)
- Click here to find out other ways to avoid paying PMI
- Maximum loan amounts of $417,000 in NW Arkansas - Even higher in other areas of the country.
- Loan amounts in excess of $417,000 are considered JUMBO loans and often have higher interest rates.
- Click here to see how to avoid a higher interest rate with a loan amount over $417,000
- The Seller may pay up to 3% of the Sales Price towards any of the Buyer's Closing Costs and Prepaid items
Sample Conventional Mortgage Estimate