Conventional loans, or loans that aren’t backed by the government is one of the most common selections when it comes to getting a loan for your home. While a popular choice for home buyers, these loans can be tricky to navigate which is why our team at Sarasota Mortgage Brokerage is here. From understanding eligibility to making sure you take advantage of the offered benefits, we ensure that your home loan is working for you. As one of the top mortgage loan companies in Sarasota, FL, our team will get you the loan that you need to get started on your new home today.
The main difference between conventional loans and other types of loans is that conventional loans are not backed by a government agency. As opposed to VA or FHA loans, conventional loans have more flexibility in some areas, including down payment options, interest rates, and even financing above the home’s value. These loans are typically available to those with higher incomes and solid credit scores, also presenting the option to use them for secondary residences or for investment properties. For those looking at conventional loans, our team will help you find a mortgage loan in Sarasota, FL that gets you the financing for home you desire.
There are a number of benefits to selecting a conventional home loan, and with our experienced mortgage brokers you’ll be more informed about these loans, allowing you to make smarter decisions about your future investment. Though conventional loans are easier to get for those with high credit scores and a consistent source of income, there are a number of benefits that it offers. With higher down payments, borrowers are able to avoid the need for mortgage insurance, which can save thousands of dollars as time. There is also the potential to borrow above the value of the home to accommodate items such as furniture and construction.
While qualifying for a conventional loan may be more complicated than some of the alternatives, ours is one of the best mortgage lenders in Sarasota, FL - helping clients reach eligibility for the loan that they require. Conventional loans are ideal for those with moderate to high incomes, good credit and the ability to meet the standards for a minimum down payment. Borrowers need to show proof of income and are subject to a debt to income ratio analysis that proves the ability to pay over time. Though these qualifications may seem complicated, there are a number of benefits that our team will help you better understand.
Our Loan Officers
By selecting our mortgage broker in Sarasota, FL for your conventional loan you’ll be treated to the best service in the business. Our loan officers are experienced in acquiring loans for clients of all backgrounds, from first time buyers to investors, to those that are ready refinance mortgage rates today. Our team will help you with everything from understanding your eligibility, to getting you fixed or variable rate interest that will best serve you now and into the future. Not only getting you the home you desire, we also assist with your financial planning through our custom loans that are designed to help you better plan for the future.