Conventional Mortgage

Peoples Bank Mortgage offers a wide variety of conventional mortgages to its clients. What are conventional mortgages? These are loans that are not guaranteed by government agencies, like the FHA, VA, and USDA.  Most of the loans guaranteed by the government are what are commonly referred to as “conforming” loans because they adhere to the guidelines which are set down by the Federal National Housing Administration or the Federal Home Loan Mortgage Corporation (otherwise known as “Fannie Mae” and “Freddie Mac”). Fannie Mae and Freddie Mac make these home loan guidelines in order to establish criteria for the mortgages that it sells to investors.

Conventional Mortgages Peoples Bank

Conventional Mortgage (Non-Conforming) Borrowing Benefits:

  • Highly competitive rates and flexible terms
  • No private mortgage insurance on loans with equity over 20%
  • Home loans for urban, rural, condos, PUDs and most other types of housing
  • Varying home loan limits depending on your area

Interested in learning more about conventional mortgages? Contact us or give us a call today at (843) 606-6058 or toll-free at (855) 406-0197 for more information and a free consultation.

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