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Conventional Loans

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A conventional loan is a type of mortgage that is not part of a specific government program, such as Federal Housing Administration (FHA), Department of Agriculture (USDA) or the Department of Veterans Affairs (VA) loan programs.

Type of mortgage
A conventional loan is a type of mortgage that is not part of a specific government program, such as Federal Housing Administration (FHA), Department of Agriculture (USDA) or the Department of Veterans Affairs (VA) loan programs.

A conventional loan is a type of mortgage that is not part of a specific government program, such as Federal Housing Administration (FHA), Department of Agriculture (USDA) or the Department of Veterans Affairs (VA) loan programs.

Conventional Information

How a Conventional Loan Works

Conventional mortgages are either fixed mortgages or adjustable-rate mortgages, including the 30-year fixed, 15-year fixed, hybrid ARMs and interest-only loans. Conventional loans can be used to refinance a mortgage or for a new home purchase.

Conventional loans can be conforming or non-conforming, with conforming meeting the standards set forth by government-sponsored enterprises, such as, Fannie Mae and Freddie Mac.

Down Payment Options

We offer a 3% down program for those clients who qualify, otherwise a 5% down program is available.  You can as always put down as much as you want 10%, 15%, 20% or more.

Credit Requirements

Conventional loans require a higher credit score than an FHA or other government sponsored mortgage. Conventional loans are meant for those with good to excellent credit history.

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    ABOUT US

    PierPoint Mortgage, LLC, was founded in 2003 and had been offering brilliant services ever since. It is a nationwide mortgage broker that has over 50 years of mortgage experience.

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    3088 Sheffield St. STE B Muskegon, MI 49441

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