Conventional loan 2017


Conventional loan 2017 - There are several types of conventional loan programs that you may qualify for. Each program has different down payment, credit score, property type and loan-to-value requirements.

Fannie Mae and Freddie Mac have several programs for first time home buyers with a low down payment.

  • My Community program requires a minimum down payment of 5%. The borrower’s income cannot exceed 100% of the annual HUD Area Median Income for the subject property’s location.
  • Home Possible® program requires a minimum down payment of 5%. First Time Home Buyers must participate in a home ownership education program. 40-year fixed rate Home Possible® mortgage.
  • Community Solution loans provide additional flexibilities for teachers/educational institution employees, firefighters, police, healthcare workers and military personnel.
  • HomeChoice loans offer borrowers with a disability or who have a family member with a disability who may need greater underwriting flexibilities, including non-occupying co-borrowers.
  • HomePath® program is a fixed-rate, fully amortizing loan program that provides the financing for properties that are owned by Fannie Mae as a result of foreclosure or other similar action such as a deed-in-lieu.
  • Conforming loans that promote home ownership for first time home buyers with programs that offer a low down payment.
  • Conforming High Balance are mortgages originated using higher maximum loan limits that are permitted in designated high-cost areas.
Conventional loan 2017

Fannie Mae and Freddie Mac require a minimum credit score of 620 to buy a home. Their mission is to help ensure that home buyers and home owners have access to mortgage financing.

What documentation will I need?

• Personal tax returns for the past 2 years with W2's
• Current pay stubs for the past month
• Bank statements for last 2 months (all pages)
• Latest retirement statement for each active account (all pages)
• Clear copy of Driver’s License (front and back)
• Clear copy of SS card (front and back)
• Copy of sales contract

Apply Now!

Call us 888.958.5382


We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.


We look forward to working with you.

What's the minimum credit score needed to buy a house or refinance in Florida?

Apply Now!

Call 888.958.5382

E-mail Us!

FHA loans

FHA loans require a minimum 500 credit score to buy a house or refinance

500 credit score

VA loans

VA loans require a minimum 500 credit score to buy a house or refinance

500 credit score

Fannie Mae

Fannie Mae loans require a minimum 620 credit score to buy a house or refinance

620 credit score

USDA loans

USDA loans require a minimum 580 credit score to buy a houseor refinance

580 credit score

HOMEPATH

HomePath loans require a minimum 620 credit score to buy a house

620 credit score

HARP refinance

HARP loans require no minimum credit score torefinance

No minimum credit score

Freddie Mac

Freddie Mac loans require a minimum 620 credit score to buy a house or refinance

620 credit score

Want to know if you qualify for an FHA loan? Get pre-approved for an FHA loan online.

Call Now, Our Staff is Available!

888.958.5382

Apply Now!