What is a Conventional Mortgage?

Offered by banks and non-banks

• This is the traditional mortgage.  Client puts 20% down on a purchase / can refinance up to 80% of appraised value. 

• Max amortization 30 years (with the banks/A lenders)

• Refinance can be to pay out debt, buy a property, or just take cash out.

• Most lenders have a sliding scale for high value homes.  Value over $X, they do a lower Loan-to-Value.  Subject to sliding scale – 80% of first $2M + 50% of the rest. 

To find out more, please contact us