Conventional Loans

“Traditional” doesn’t have to be lame.

Don’t let your mortgage bleed you dry. Get one that won’t force you to eat peanut butter and noodles all the time. These conventional home loans fit your budget. We provide solid, secure mortgages backed by Fannie Mae, Ginnie Mae or Freddie Mac. That might sound boring, but you’ll appreciate the stability. Flexible terms. Fixed or adjustable rates. It’s your call.


15-Year Fixed Mortgage

Approach your mortgage payments like a workout. Push harder, finish sooner and feel better. That’s what happens when you pay off your home in 15 years and save a lot of time and interest payments. This mortgage takes more commitment because you’re making higher monthly payments. But if you have the financial cushion, get this mortgage and start thinking of the day when you won’t have one. That day can come a lot sooner.

Key Features:

  • Commit to a slightly higher monthly payment and pay off your mortgage in less time
  • Keep your fixed rate so you can budget confidently
  • Get a mortgage with only 5% down payment
  • Put down 20% or more and you won’t pay mortgage insurance

Requirements:

Down Payment 5% of the final loan amount
Terms 15 years, fixed rate
Credit Score 620 minimum
Mortgage Insurance No, if under 80% loan-to-value
Maximum Loan Limit Yes*
*Some “high balance” areas have loan limits above the standard level.

 


30-Year Fixed Mortgage

This IS your father’s mortgage. But, hey, you have to admit Dad knows what he’s talking about from time to time. This mortgage offers some rock-solid guarantees: your rate and your monthly principal and interest payment won’t change. Steady can be good.Fannie Mae, Ginnie Mae and Freddie Mac back these mortgages, which is another reason so many people get them. Your monthly payments will be lower compared to some other mortgages. That means more money to spend celebrating your smart decisions.

Key Features:

  • Fixed rates so you know what you’re paying every month
  • Lower monthly payments than 15 year mortgages
  • Get a mortgage with only 5% down payment
  • Put down 20% or more and you won’t pay mortgage insurance

Requirements:

Down Payment 5% of the final loan amount
Terms 30 years, fixed rate
Credit Score 620 minimum
Mortgage Insurance No, if under 80% loan-to-value
Maximum Loan Limit Yes*
*Some “high balance” areas have loan limits above the standard level.

Equal Housing Lender
PRMI NMLS: 3094. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply.
This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Florida Office of Financial Regulation MLD646.
Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094. Bureau of Financial Institutions: MC-2248 Broker MC-2248 NMLS # 3094. NMLS Consumer Access.
“Licensed by the New Hampshire Banking Department” 10706-MB. Branch Phone: 603-718-3184

Eric LaFleur MLO165839
NMLS #996610