Conventional Loan Products
Standard Conventional
- 5% & Up Down Payment
- No income restrictions
- PMI is based on Credit score, Loan amount, & LTV
- 620 minimum credit score
Home Ready/ Home Possible
- Must be a first-time homebuyer.
- 3% Down Payment
- Loan has income limits and Area Restrictions
- Minimum of 620 Credit score
- Buyer must complete a one-time homebuyer education course.
Renovation / Home-style (Fixer Upper) loan
- One-Time close loan
- All other conditions, refer to “Standard Conventional” bullets.
- Call for additional information on this product.
Common Documents Needed For A Mortgage
• Driver’s license
• Social Security Card
• Full Month of Paystubs
• Last two year’s W-2s
• Last two year’s Tax Returns
• Most recent two-month Bank statements (all pages)
• Social Security / Retirement award letter (if applicable)
• Bankruptcy discharge papers (if applicable)
• Divorce Decree and/or Child Support orders (if applicable)