Conventional Loans

Conventional loan programs offer something for almost anyone. Purchase, refinance, cash-out refinance, first-time home-buyers, low down payments, and jumbo borrowers.

In simple terms, a conventional mortgage is a basic home loan that's not insured or guaranteed by the federal government. That means the lender takes on the risk of giving you the loan, and you pay interest on your loan over time. Typically, conventional mortgages have fixed interest rates, which means your monthly payments remain the same for the life of the loan. The loan is often underwritten by a private lender such as a bank, credit union, or mortgage company.

 

Conventional mortgages generally have stricter lending requirements than government-backed mortgages such as FHA and VA loans. If you can't make a large down payment, you may still qualify for a conventional loan with a down payment as low as 3%. You'll need to pay Private Mortgage Insurance (PMI) to protect the lender if you have less than a 20% down payment.

 

FLB Mortgage offers a wide variety of conventional loans at competitive rates, with features including:

This is not a commitment to lend; you must submit additional information for review and approval. Rate, Annual Percentage Rate (APR), and terms are subject to change without notice. Certain restrictions apply to all programs. See your FLB Mortgage Loan Officer for complete program guidelines, loan application, applicable fees and annual percentage rates (APRs) for all loan programs. Full underwritten approval is required, and all loan approvals are subject to credit, income and asset review and approval. Bank NMLS#1215182