Conventional loans are one of the most popular home loan options for home buyers, particularly for first-time home buyers. A conventional mortgage offers a number of advantages that are ideal for first-time home buyers and others with similar financial goals.
Some of the many benefits of conventional loans include:
- A fixed interest rate so you can count on the stability of your monthly mortgage payment
- Programs with competitive interest rates
- Terms allowing you to choose what will work best for your budget
In some situations, some conventional home loans may not require private mortgage insurance (PMI), depending on your credit score and the loan program. Without private mortgage insurance, AZ home buyers may be able to make a smaller down payment and or enjoy a lower monthly mortgage payment. We can help discuss your options and find the right loan options for you, such as an Arizona FHA home loan or an Arizona first time home buyer lending program!