Conventional Loan
Reasons/Highlights
Why a
Conventional Loan.
- Down payments as low as 3%
- Credit scores as low as 620 may be accepted
- Fixed-rate mortgages can simplify budgeting
- Adjustable-rate mortgages can offer lower initial payments
- Easier to get rid of PMI than any other loan type
About Conventional Loans
Simple
is better.
When it comes to home financing, simple is better. Conventional loans are our most popular purchase and refinance option for people with awesome credit and no time for unnecessary fees.
Second option: Want your choice of fixed or adjustable rates and no PMI after building 20% equity? Try a conventional loan, our most popular option for purchase and refinance.
Fun Fact
Once you own 20% of your home and can prove it with an appraisal, you can stop paying private mortgage insurance (PMI) with a conventional loan. At 22% equity based on your original payment schedule, your PMI drops automatically. People really love that part.
More Home Loan Options
Great news. With conventional loans, you’ve got options. Here’s a look at what’s possible.
Conventional Purchase
It’s popular for a reason.
When you need a straightforward mortgage, a conventional loan fits the bill. This popular choice offers fixed and adjustable rates, 10-30 year terms, and as little as 3% down. It’s also the easiest loan type for dropping private mortgage insurance.
Conventional Refinance
Get better rates or cash out*.
Refinance to a conventional mortgage from any loan type to enjoy lower rates with a rate-and-term refi. Or, if you’re looking to leverage your home equity, a cash-out conventional refi gives you access to flexible funds with cash out. Kitchen reno, anyone?
*Using your home equity to pay off debts or make other purchases does not eliminate the debt or the cost of the purchases, but rather increases the loan amount of your mortgage to be paid according to your new mortgage terms.
Conventional Rate Protect
House shopping just got less stressful.
If you’re looking to take out a conventional mortgage but haven’t found The One in your home search, Conventional Rate Protect lets you lock in your conventional loan interest rates for up to 90 days while you find the right house for you.
Know what to expect and see it actually happen.
- A personalized loan process that delivers success
- No robots or automated systems, just real people who you can talk to
- Trusted experts who get to know your unique needs
Here’s what our clients are saying:
Minimal headaches and a lot of clarity.
“Matt and John are both great – always available for questions, able to explain all of my options to me immediately and simply. Both my initial loan and a complicated refinance were handled through them with minimal headaches and a lot of clarity.”
Easy Breezy.
“This is the third time we have worked with Matt and there’s a reason we keep coming back. He is easy and fun to work with (which is important when you’re signing your life away on a home mortgage haha!) and makes the process easy breezy. But don’t let the fun fool you, he is professional and knows his stuff. We are grateful to have him as our mortgage guru. Thanks, Matt!”
Big Suitcase Full of Money – with a SMILE!
“The Primo Loans team checked ALL the boxes on my investment purchase! Their team picks up the phone, has my best interest in mind, communicates well, willing to work for my business, and has done an amazing job on my loans over the years. Continuously improving the process all while maintaining an authentic and sincere approach to lending keeps us coming back for more. Really, call them. They are a great source of knowledge.”
Could not have asked for a smoother process!
“They were more than willing to answer any questions we had at any time. They continuously checked in to make sure things were going good on our side. They work very well together and got us the beautiful home we are in for a great price with great rates in about a month. During the signing, even the agents could not believe the numbers compared to some they had seen previously. Primo Loans has a great team to work with. Could not recommend them more!!”
A buying process as smooth as it could be.
“Matt and his team helped make my and my fiance’s house buying process as smooth as it could be! Matt took time out of his day for me to talk numbers whenever I needed him to and rework any situation that raised a concern to me so I would better understand. He continuously emailed us to make sure all was going well on our side so that closing would be complete in time, which we finished well ahead of schedule! This is my second buying experience with Primo Loans and I have no complaints about this Team.”
A Loan Process as stress-free as
possible.
- Get in your home quickly with no hassle.
- A name and direct phone number you can call.
- Walk through your long-term investment goals.
Don’t end up in a hotel with everything you own in a truck.
- Get help from real people, not a robot on the phone.
- Don’t work with rookies who are just learning the loan process.
- Stop relying on algorithms that don’t deliver success.
We won’t put you in a home you can’t afford.
At Primo Loans, we know you want to feel confident throughout your mortgage experience. To do that, you need a loan officer who will personally lead you through the process and help eliminate the hassles. The problem is, buying a home is one of the largest investments you’ll make in your life. The loan process is often overwhelming and can make you feel anxious that you won’t qualify for the home your family needs.