WHAT IS A RESIDENTIAL MORTGAGE

A conventional or traditional mortgage loan is designed for borrowers looking to finance residential properties with 1-4 units. Borrowers are required to have good credit history and usually requires a 20% down payment. It is possible to obtain a conventional residential mortgage with a down payment as low as 3% when the borrower agrees to pay private mortgage insurance.

TYPES OF PROPERTIES

• Residential Properties 1-4 Units
• Primary Residences, Second Homes, and Investment Properties
• Single Family, Multifamily (2-4 Units), and Condominiums

PROGRAM DETAILS

• Minimum Down Payment: 3%
• Maximum Debt to Income Ratio: 43%
• Loan Amount Limit: $726,200 (varies with type of property, state, and county)

requirements

• Must have established credit history and verifiable income reported in the USA.

who can apply?

• Domestic Clients: USA Citizens, Green Card holders, Political Asylum holders, TPS, DACAS, L1, E1, E2.

What Interest Rates apply?

• Rates are subject to market change and depend on the borrower’s profile and loan parameters such as loan amount, loan program, and type of property.