Conventional Loans, Richmond Hill, GA

HomeMortgage Loans, Richmond Hill, GAConventional Loans, Richmond Hill, GA

We will walk you through everything you need to know about conventional loans.

It is easy to confuse the words “conventional” and “standard”. When something is standardized, it means that the product itself is the same wherever you go, albeit the service related to it can vary. When something is conventional, such as with conventional loans, it can vary widely from one provider to another. That is why even if you qualify for and plan to go with a conventional mortgage, you should consider the guidance of our professionals here at Harbor Mortgage Company. We will ensure that you are matched with the right loan for your needs, including getting our top-notch service along the way.

Conventional Loans in Richmond Hill, Georgia

One of the things to keep in mind is that conventional loans are not typically secured by the government. Since the lender does not have that safety net, so to speak, they generally have stricter eligibility requirements to cover the risk involved. To qualify, you’ll generally need at least a 10 percent down payment, and likely a 20 percent one, a lower debt-to-income ratio, and a higher credit score than you might need with other types of mortgages.

Don’t worry if you are just a tad off on one of the qualifying factors for conventional loans, as we are happy to look into other options for you if need be. It might also be advantageous to go with a government-backed mortgage if we can find better terms. It is always good to do the math before assuming that one loan is better than another. The terms that go beyond the interest rate can have a huge impact on whether one is better than another. If you are getting ready to purchase a property in Richmond Hill, Georgia, reach out to us to learn more about conventional loans and other options.

At Harbor Mortgage Company, we offer conventional loans to those in Savannah, Bloomingdale, Fort Stewart, Garden City, Georgetown, Hinesville, Pooler, Port Wentworth, and Richmond Hill, Georgia, as well as Bedford, Carrollton, Colleyville, Coppell, Flower Mound, Grapevine, and South Lake, Texas.


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