Conventional
Choose Jordon Yates Mortgage for your trusted mortgage Loans
Conventional Mortgage Loans
A conventional mortgage is one of the most popular home financing options, offering flexibility and affordability to qualified borrowers. Unlike government-backed loans, conventional loans are issued by private lenders and are not insured by federal agencies, giving you more choices in terms of terms, rates, and loan amounts. Here’s everything you need to know about conventional mortgage loans and how they can help you achieve your homeownership dreams.
Key Features of Conventional Loans:
Variety of Term Options:
Choose from a range of term lengths, including 15, 20, or 30 years, based on your financial goals and preferences. Shorter terms allow for faster equity build-up, while longer terms offer lower monthly payments.Competitive Interest Rates:
Conventional loans often come with competitive fixed or adjustable rates, providing flexibility and predictability in your monthly payments.Flexible Down Payment Options:
While a 20% down payment is common, many conventional loans allow for as little as 3% down, making homeownership more accessible to first-time buyers and those with limited savings.No Upfront Mortgage Insurance Fees:
Unlike FHA loans, conventional loans do not require upfront mortgage insurance premiums, which can help you save on initial costs. However, private mortgage insurance (PMI) may be required if your down payment is less than 20%.
Benefits of Choosing a Conventional Loan:
Greater Loan Limits:
Conventional loans often have higher borrowing limits compared to government-backed loans, especially in high-cost areas.Property Flexibility:
You can use a conventional loan to finance various property types, including single-family homes, multi-family properties, condominiums, and vacation homes.No Restrictions on Location or Income:
Unlike some government-backed loans, there are no income limits or geographic restrictions, giving you more flexibility in where you choose to buy.Customization Options:
Conventional loans offer a wide range of customization options, including different loan structures and repayment plans, tailored to fit your unique needs.
We guide you through every step of the mortgage process, ensuring you understand your options and feel confident with your decisions. From application to closing, we’re with you every step of the way.
Our dedicated Loan Concierge is here to make your mortgage experience as smooth and stress-free as possible. Whether you have questions or need assistance.
We offer flexible mortgage rates and low fees to help make homeownership more affordable. With customized solutions that fit your financial needs, you can find a plan that works for you without breaking the bank.
Talk with a Lending Specialist.
Have questions or need more information about our mortgage services? Feel free to send us a message!
How it Works
Let us help you get your home today.
At Jordan Yates Mortgage, we are dedicated to helping you secure the home of your dreams.
We begin by understanding your homeownership goals and financial situation. Our experts will explain your mortgage options and help you choose the best plan for your needs.
To move forward, we'll gather necessary documents such as income proof, credit history, and identification. This helps us assess your eligibility for the loan.
Our team will carefully evaluate your application, verifying your documents and ensuring you meet all requirements. Once approved, you'll receive a formal offer for the mortgage.
After signing the agreement, the funds will be disbursed to finalize your home purchase. We’ll ensure a smooth and timely transfer of funds, so you can move into your new home with confidence.
No prepayment penalties. You can pay early without a charge.
With our mortgage services, you have the freedom to pay off your loan early without any additional charges. We believe in flexibility, so you can save on interest by making extra payments or paying off your mortgage ahead of schedule—without worrying about prepayment penalties.
