Conventional Mortgage Loans

Conventional Conforming Loans  

(Loan Amount below $300,000.00)

	100% no money down (all types of credit)
	minimal money down (usually 5%)
	new or reestablishing credit
	good credit= prime rates and programs
	down payment must come from borrowers own funds
	can not own more than 11 other single family properties
	closing cost can be financed into the loan (depending on program)
	trying to get out of paying mortgage insurance.

Conventional Jumbo Loan  

(Loan Amount above $300,001.00)    

	100% no money down (all types of credit)
	minimal money down (usually 5%)
	new or reestablishing credit
	good credit= prime rates and programs
	down payment must come from borrowers own funds
	can not own more than 11 other single family properties
	closing cost can be financed into the loan (depending on program)
	trying to get out of paying mortgage insurance.