Conventional Standard
FICO per AUS
Up to 97% CLTV
Conventional loans are fully compliant with Fannie Mae and Freddie Mac guidelines. A Conventional Standard program is a traditional mortgage option with competitive rates and flexible down payments starting at 3%. The program is designed for creditworthy homebuyers looking for a straightforward path to homeownership.
Program features- Loan amounts up to $832,750
- FICO as per AUS
- Up to 97% LTV
- DTI as per AUS
- Min down payment 3%
- Temporary rate buydowns available
- No overlays with FNMA/Freddie
- Cancelable MI
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Program details
Loan amounts up to $832,750
DTI as per AUS
Minimum down payment 3%
LTV up to 97%
Primary residence, second home, investment
At least two consecutive years of stable income and employment
Reserves per AUS
Gift funds are allowed
Private mortgage insurance is required if down payment is less than 20%
Mortgage history: At least 2 years out of credit events
Eligible property types: Single-family homes, 1-4 units, condominiums, townhomes, PUDs, and manufactured
Various fixed term, 5/6, 7/6/ & 10/6 ARM terms
Eligible citizenship: US citizens, Permanent Residents, Non-permanent Residents
Eligible borrowers: Individuals, Revocable & Land Trusts
Fast turnaround times
As fast as
24 hr
Disclosure
As fast as
24 hr
Underwriting
As fast as
48 hr