Specialized loans for maximizing returns in Florida’s dynamic real estate.
When you’re looking to buy a home, it’s essential to know your financing options. Among the various loan types, conventional loans are a favored choice for many buyers. At American Fidelity Mortgage, we focus on offering conventional home loans tailored to meet diverse needs, whether you’re a first-time buyer or seeking to refinance your existing mortgage.
A conventional loan is a mortgage that isn’t backed or insured by the government. Unlike FHA or VA loans, these loans are provided by private lenders, such as banks or credit unions. They can be utilized for purchasing both residential properties and investment real estate
At American Fidelity Mortgage, we are committed to provide the clients the support they need to achieve their homeownership goals.
Conventional home loans come with several benefits. One major advantage is their flexibility. With the best conventional loans, you can select a term length that aligns with your financial situation, ranging from 15 to 30 years. Moreover, these loans often feature competitive interest rates for borrowers who meet the necessary criteria.
While residential conventional mortgages are generally favored for primary homes, they can also be applied to vacation properties or rental units, offering you the versatility you need.
Lower Interest Rates: If you have a solid credit score and a reliable income, you can secure lower interest rates with a conventional mortgage.
Flexible Terms: Conventional loans come with a variety of terms, allowing you to select the one that aligns best with your financial situation.
No Private Mortgage Insurance (PMI): With a residential conventional mortgage, you can avoid PMI payments if you make a down payment of 20% or more.
Before you apply for a loan, it’s beneficial to know what your monthly payments might look like. A conventional loan calculator is a useful tool that can help you estimate your monthly mortgage payments based on factors such as the loan amount, interest rate, and loan term.
At American Fidelity Mortgage, we offer easy access to a conventional loan calculator to assist you in planning your home purchase and understanding the financial commitment involved. By entering your details, you can gain a clearer understanding of what your monthly payments will be.
To apply for the best conventional loans, follow these essential steps:
Check Your Credit Score: Lenders usually require a credit score of at least 620 for conventional loans, but a higher score can enhance your chances of obtaining better rates.
Gather Your Financial Documents: Lenders will ask for documents like pay stubs, tax returns, and bank statements to evaluate your ability to repay the loan.
Choose a Loan Type and Term: Collaborate with a loan officer to decide between fixed or adjustable-rate loans and determine the loan term that best fits your financial objectives.
Submit Your Application: After gathering your information and selecting your loan, submit your application to your lender.
At American Fidelity Mortgage, we focus on assisting our clients in obtaining the best conventional home loans and residential mortgages tailored to their needs. Our knowledgeable team is dedicated to guiding you through the process, helping you make informed choices about your home financing.
If you’re prepared to embark on your journey to homeownership or refinance your existing home, give us a call today at (813) 732-3744. We’re here to help you find the best conventional loans available in the market.
Contact us today to begin your journey to homeownership with trusted mortgage solutions in Florida.
