Why Conventional Mortgage Programs?
Conventional products provide a wide variety of homebuying and refinancing options for well-qualified borrowers. Government products restrict lending to only primary residences, but Conventional Mortgage Programs allow borrowers to purchase primary residences, investment properties, second homes, vacation homes and even multi-family properties. Contrary to popular opinion, perfect credit is not required for Conventional Mortgage Programs. With Just Funded Mortgage, borrowers can qualify for Conventional Mortgage Programs with credit scores as low as 620.
Many borrowers need flexible products with low interest rates, flexible terms and minimal down payments. Affordability is the key to many borrowers being able to buy homes or refinance. This is where Conventional Mortgage Programs are a great help. Just Funded Mortgage offers Conventional Mortgage Programs that meet these consumer needs.
"While FHA and other government loans can have certain property restrictions, a conventional mortgage can be used on nearly all property types."
Fixed & adjustable interest rates
Minimal credit requirements
Conventional Mortgage Programs make homeownership accessible to more Americans. Just Funded Mortgage offers Conventional Mortgage Programs to consumers with credit scores as low as 620. Also, borrowers need not have a lot of established credit. Even self-employed borrowers may qualify after one year in business, instead of the 2-years typically required by most loans.
Special consideration for student loan debt
Today, many borrowers have student loan debt. When consumers take out student loans, they are given a set payment to pay after leaving school. However, most student loan providers offer Income Based Repayment (IBR) and will restructure the terms of repayment to meet the borrowers’ income levels. Unfortunately, FHA mortgage programs require that the greater of the regular student loan payment or 1% of the outstanding loan balance be used for qualifying for a mortgage.
This policy often makes it difficult for consumers with student loan debts to qualify for a mortgage. Nevertheless, some Conventional Mortgages allow borrowers to qualify using the payment they are required to make, even if they have $0 monthly payments. Conventional Mortgage Programs are a great option for consumers with student loan debt.
Conventional Mortgage Programs can also be used for new home construction, renovation projects, and financing investment properties, vacation homes, or homes for other family members. At Just Funded Mortgage we will help you find the best options to reach your goals.
YOUR MORTGAGE, YOUR TERMS.
Let us guide you through the process, so you can join the thousands of happy homeowners who trust Just Funded Mortgage.