The most popular & common type of mortgage! At Treadstone, all of our conventional loans offer fixed-rate programs with a variety of payment terms. Down payment options start as low as 3% for qualified consumers, but many prefer a higher down payment to avoid mortgage insurance. Borrowers who put down 20% or more avoid mortgage insurance all together!
Bottom line? If you have dollars to put down and don’t want to be restricted on where you can buy, a conventional loan is a solid choice.
- Multiple down payment options starting at 3%
- Down payment can be 100% gift from a relative or employer
- No Mortgage Insurance if 20%+ down
- Allows seller contributions towards buyer closing costs and escrow
- The maximum mortgage is $510,400