• What It Is

    A Conventional Loan is the most straightforward loan, as it is not a part of any specific government program. It follows stricter guidelines for borrower credit scores, minimum cash required, and debt-to-income ratios. As a result, this type of loan offers great terms and interest rates, resulting in low monthly payments.

    In the past, Conventional Loans required a 20% cash up front to purchase a home. But Accelerate Mortgage can help you get a Conventional Loan with as little as 3% cash required from the buyer with NO PRIVATE MORTGAGE INSURANCE, also known as PMI. Many of our clients are eliminating the mortgage insurance premium (MIP) on their FHA loans by refinancing into Conventional Loans with no PMI. Click Here to learn more!

  • Benefits

    The Conventional Loan’s biggest advantages are low monthly payments and a seamless, accelerated transaction process.

    Other benefits of a Conventional Loan with Accelerate Mortgage:

    • Simple approval process
    • NO mortgage insurance premiums in most cases
    • 3% or less cash required from buyer
    • Low interest rates
  • Who Qualifies

    • Must have a credit score of 640 or above
    • Must have stable income
    • Cash required from buyer typically range anywhere between 3% to 25% of home’s value
  • Your Step-by-Step Journey Home

    1

    Apply

    Click here to get started on an online application or give us a call.

    2

    Speak to a loan officer

    Our professional loan officers will help determine your current financial situation and your future goals.

    3

    Choose a solution

    Your loan officer will customize a loan program specific to your needs.

    4

    Submit your application

    Your loan officer will help you complete your application and put your loan in process.

    5

    Let us take it from there

    We will process your loan quickly and keep you informed every step of the way.

    6

    Close your loan

    Once completed, we’ll set up an appointment with you to close and fund your loan.

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Find A Loan Officer

Whether you’re buying a new home, refinancing, looking for a cash-out, or just have questions about the process, we’ve got the right people to help you get the right mortgage.

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