Have you been wanting to buy a home in the Grand Rapids area for a while now? You have followed classical wisdom, saved money for a down payment, kept your credit score high, and maintained steady employment, now what? Well now is where your hard work is going to pay off, if you did all of the aforementioned things you likely are a great cantidate for a conventional mortgage loan in Grand Rapids or West Michigan.
Conventional Loans are Great in Grand Rapids Because….
- Conventional loans often offer the lowest interest rates in Grand Rapids.
- You do not need mortgage insurance if you put down 20%
- If you do not put 20% down mortgage insurance rates are still lower than FHA
- They are easy to handle and can create quicker turn times
- Refinancing in the future is often easier if your original loan was conventional (although rates are currently at all time lows)