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9AM to 5PM Monday through Friday Central Time today!
Conventional Loans
Conventional loans are loans that are underwritten by Fannie Mae and Freddie
Mac guidelines. Most banks including ours run their loans against the software
engines these two entities have created to determine an approval. The current
maximum loan amount for a single family conventional loan is $417,000. A loan
amount above this limit is considered a jumbo loan.
Most banks will require a minimum credit score of 640 or above to qualify.
Keep in mind that typically Freddie Mac and Fannie Mae apply high fees to your
loan when your credit score is below 740. This loan is designed for borrowers
with good credit and a minimum of 5% down payment money.
We have many types of conventional loan programs to choose from. We will
asses your needs and find a program that best fit you.
When applying for a conventional loan with Clover Mortgage Group, LLC we will
guide you through the entire process. We will make sure you are clear on rate
& terms.
We look forward to helping you with your conventional loan.
Our Pre-Approval consultation is free and without obligation
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