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LOAN PRODUCTS FOR:

PURCHASING REAL ESTATE

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FNMA / FHLMC CONVENTIONAL

FNMA=3% Down / 620 Minimum

FHLMC=3% Down / 660 Minimum

Down Payment Assistance

PMI paid the life of the loan

43-45% DTI Allowances

Paystub / Self Employed

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Ready to find out if you may qualify for a Conventional loan?

LoanGIANT’s experienced LoanGIANT Loan Consultant professionals are always happy to help answer any questions you may have about Conventional loans, requirements, or the mortgage process.

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CONVENTIONAL FNMA-FANNIE MAE and FHLMC-FREDDIE

PURPOSE & HISTORY:

We at LoanGIANT Home Loans, believe that it’s important to provide a range of lending solutions that fit all types of buyers. That’s why we offer FNMA & FHLMC loans – because they can be a smart choice for buyers with limited funds and marginal-to-average credit.

The Federal National Mortgage (FHA) was created in 1934 to make it easier to purchase a residence or facility, even for buyers with limited capital and/or imperfect credit.

 

Why you may benefit from an FHA home loan:

FHA loans are partially insured by the government, which reduces a lender’s risk and makes qualifying for the loan simpler. That means you may be able to make that purchase investment much sooner than you hoped. Give us a call and we’ll walk you through everything you need to know to find out if this is the right solution for you.

FHA Private Mortgage Insurance also know as MIP:

FHA Mortgage Insurance typically costs between 0.5% to 1% of the entire loan amount over 80% LTV on an annual basis for the life of the FHA loan. FHA, unlike conventional home loans do not have the self eliminating mortgage insurance feature. The only way to avoid MIP on a FHA home loan is purchasing with a minimum 20% down at closing. Many refinance after a projected 22% equity has been reach by appreciated property value or paid down loan principal balance.

What Is a Conventional Loan?

A Conventional loan is not offered or guaranteed by the federal government but is available through LoanGIANT. Most Conventional loans have either fixed or adjustable interest rates.

Fixed-rate mortgages are for homeowners who desire a stable monthly interest rate and payment over the term of 30 or 15 years.

Adjustable-rate mortgages, or ARM, offer a low introductory fixed-rate term. This is an excellent option for homeowners who are planning on selling or refinancing their home in 5-7 years as it lowers your rate and payments during the introductory fixed period.

Conventional Loans Are Great for Homebuyers Who Have:

  • Good credit scores

  • A stable employment history

  • A stable income history

  • Money to put towards a down payment

Advantages of Conventional Loans:

  • 97% financing

  • HARP loans available

  • Second home, non-owner occupied investment property financing available

CONVENTIONAL HOME LOANS FOR PURCHASING

WITH AS LITTLE AS 3% DOWN

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Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 

 

Conforming Fixed

The Fixed Rate Conventional options. Fixed means your P&I Principle and Interest Portion of your Payment will never change for the life of your loan. Conventional loans also have a money saving feature of self eliminating Mortgage Insurance. Only Conventional loans have this feature.

Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 

 

Conforming ARM

The Adjustable Rate Conventional ARM option. Adjustable Rate Conventional ARM means your P&I Principle and Interest Portion of your Payment is guaranteed to change for the life of your loan. This is usually in an upward pattern every termed increase allowance. Conventional loans also have a money saving feature of self eliminating Mortgage Insurance. Only Conventional loans have this feature.

Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 

 

High Balance Fixed

Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 

 

High Balance ARM

Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 

 

HomeOne

If you’re dreaming of homeownership but still saving for a down payment, you may be able to buy now with a HomeOneSM mortgage. It only requires a 3% down payment, and you’re not limited to a traditional residence.

Low down payments for first-time homebuyers or new rates and terms for homeowners with a Freddie Mac loan:

The Freddie Mac HomeOneSM mortgage is a low down payment option for qualified first-time homebuyers. It helps hopeful first-time buyers become homeowners, offering relaxed requirements for income levels and geographic locations. HomeOneSM only requires a 3% down payment, and you’re not limited to a traditional, single-family residence.

If you already have a Freddie Mac mortgage, this program offers a no cash-out refinance so you can change the rates and terms of your loan.

Key Features and Benefits: 

  • Low down payments beginning at just 3% of your total loan payment. 

  • You may qualify with a minimum 620 FICO score

  • Several property types are allowed, including single-family home, condo, modular homes, one unit co-ops, manufactured home* and homes in Planned Unit Developments (PUDs) 

  • No income or geographic restrictions, so you're free to shop for a home within the neighborhood you prefer. 

  • Homebuyer education is required, and help you prepare for the responsibilities of a mortgage. ​

* Manufactured homes are allowed on Purchase and Rate Term Refinance Transactions of a Primary Residence only. Among other requirements, 95% LTV and a minimum of 640 FICO required.

Home Possible

Home Possible® is a Freddie Mac loan program designed to bring homeownership within reach to more borrowers. Home Possible® offers low down payments and easier credit scores.

Easier qualifying and lower costs make homeownership possible for buyers with low-to-moderate incomes:

Home Possible® is a Freddie Mac program designed to help borrowers with low-to-moderate incomes fulfill their dream of owning a home. It offers low down payments and has easier credit score requirements.

This program has other unique guidelines and options. For example, you could qualify for an Affordable Second – a secondary loan from a nonprofit group or a state or county agency, giving you access to more funding.

Key Features and Benefits: 

  • Down payments of as low as 3%.

  • Credit scores as low as 620 are accepted.

  • Fixed-rate financing for easier budgeting.

  • Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, condominiums and homes in Planned Unit Developments (PUDs).

  • Temporary buydowns can reduce your starting interest rate for 1-2 years.

  • Co-borrowers who do not live in the home can be included in a one-unit residence. 

  • Homebuyer education is required for first-time buyers.

  • Down payments as low as 3% depending on your loan amount.

HomeReady

HomeReady™ is a Fannie Mae loan program that is designed to extend the privileges of homeownership to buyers with limited household incomes.

Financing designed to put homeownership within your reach: 

HomeReady™ mortgages from Fannie Mae are meant to help borrowers with low-to-moderate incomes buy or refinance a home. These loans reduce the typical down payment and mortgage insurance requirements. They’re also more flexible with co-borrower requirements, including allowing co-borrowers who won’t be living in the home. For example, parents can co-sign a loan to help their adult children get approved.

Key Features and Benefits: 

  • Down payments as low as 3%.

  • Credit scores as low as 620 are accepted.

  • Permits family or friends to co-sign the loan.

  • Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, condominiums and homes in Planned Unit Developments (PUDs).

  • Properties in high-cost areas may qualify.

  • Homebuyer education is required. 

HomeStyle Renovation Loan

Conventional loans are not insured by the FHA or VA. Generally, these are a good option if you have a higher credit score and stable employment history. Interest rates for conventional loans are usually some of the lowest. 

An easy and affordable way to pay for home renovations and repairs:

HomeStyle Renovation® can help you finance one or more renovation projects, pay for major repairs, or install a pool. This Fannie Mae program is available for new and existing homes – even new construction. The funds can be used for design updates or even renovating accessory units like garage apartments or guesthouses.

Key Features and Benefits:

  • You may qualify for renovation fund amounts from $5,000 up to 75% of your home's post-renovation value. 

  • Lower closing costs, since you’re closing a single transaction.

  • Several property types are allowed, including single-family homes, 2-4 unit properties, modular homes, second homes, and homes in Planned Unit Developments (PUDs).

  • Fixed- and adjustable-rate mortgage options.​

CONVENTIONAL HOME LOANS

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GOVERNMENT BACKED LOANS

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JUMBO / OVER GOVIE LOAN LIMITS

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REFINANCE / HOME EQUITY LOC

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NON-QM / NONCONFORMING

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INVESTMENT / FIX & FLIP, HOLD

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BUSINESS LOANS / CREDIT LINES

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CONVENTIONAL PURPOSE & HISTORY:

We at LoanGIANT Home Loans, believe that it’s important to provide a range of lending solutions that fit all types of buyers. That’s why we offer Conventional home loans – because they can be a smart choice for buyers with limited funds and above average credit. The Fannie Mae (FNMA) and Freddie Mac (FHLMC) were created to make it easier to purchase a residence or facility with a smaller minimum down payment, even for buyers with limited capital and/or above average credit.

 

Why you may benefit from an Conventional home loan:

3% Down Conventional home loans are partially insured by the government, which reduces a lender’s risk and makes qualifying for the loan simpler. That means you may be able to make that purchase investment much sooner than you hoped. Give us a call and we’ll walk you through everything you need to know to find out if this is the right solution for you.

Conventional Private Mortgage Insurance also know as PMI:

Private Mortgage Insurance typically costs between 0.5% to 1% of the entire loan amount over 80% LTV on an annual basis. The only way to avoid MIP is purchasing with a minimum 20% down at closing. Many refinance after a projected 22% equity has been reach by property increase or paid down principal balance.

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LoanGIANT is Happy to Help with ALL your lending Goals & Objectives...

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We're the Lender for you, Contact us at our numbers below:

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Or easily fill out the contact form below to have one of LoanGIANT's loan officers to immediately get started:

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WhatsApp Customer Care:

US: +1 (404) 407-5727

SA: +27 073 960 2011

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LOANGIANT®
Instant Approval
Loan Call Centers
US: +1 (404) 407-5727
SA: +27 073 960 2011

UK: +44 770 017 7000

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WhatsApp Customer Care:

US: +1 (404) 407-5727

SA: +27 073 960 2011

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APPLY FOR YOUR NEW CAREER WITH LOANGIANT TODAY:

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+1 (404) 407-5727

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Or easily fill out the contact form below to have one of LoanGIANT's human resource managers to contact you today.

CONDO

CONVENTIONAL

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JUMBO LOANS

USDA 0% DOWN

VA 0% DOWN

FHA 3.5% DOWN

PURCHASE

DPA PROGRAMS

REFINANCE

HOME EQUITY

CONSTRUCTION

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TIME TO CLOSE:

WE'RE FUNDED

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RENOVATION

8-14 DAY RUSH CLOSING

LAND / VACANT LOT

BUSINESS

SELF EMPLOYED

HARD MONEY

INVESTMENT

AUCTION

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CREDIT SIMULATORS

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