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Conventional Loan

Have you considered a Conventional loan?

A conventional loan from SouthPoint can come in a variety of options with both fixed and adjustable rates and generally have the most competitive rates. These loans are conforming, non-government and are guaranteed by Freddie Mac or Fannie Mae. Conventional loans are great options for home buyers with good credit history and may have down payments as low as 3%.

  • Loan limit of $453,100
  • 95% maximum LTV or 97% with certain programs
  • Gifts may be allowed
  • Mortgage insurance can be avoided with 20% down payment, or may be eliminated once the home reaches 20% in equity
  • Competitive rates and fees