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Conventional Loan

Conventional Loan

What is a conventional home loan?

Conventional Home LoansA conventional loan is any type of home loan that isn’t insured or guaranteed through a government agency. Many conventional loans conform to government-set loan limits as well as income and credit score minimums. Conventional loans often cost less than government-backed mortgages such as FHA loans, but qualification requirements are more difficult to satisfy.

Many companies limit their conventional loans to 95% loan-to-value (LTV) – not us. A 97% LTV is just one of the things that make conventional loans a better choice.


  • 620 minimum credit score
  • Up to 97% LTV/CLTV for fixed-rate mortgages when at least one of the borrowers purchasing the property is a first-time homebuyer
  • 10-30 year fixed-rate mortgages, 5/6,7/6 and 10/6 ARM mortgages
  • Eligible property types include 1-4 units, condos, co-ops, leasehold estates, manufactured housing, modular homes, and PUDs
  • Purchase and refinance options available

Looking for a Mortgage Loan in Lake Norman / Mecklenburg area?

Mortgage Loan Options


USDA Loans

USDA loan is special type of a zero down payment mortgage that eligible homebuyers in rural and suburban areas can get through the USDA Loan Program



Conventional loans to 95% loan-to-value (LTV) – not us. A 97% LTV is just one of the things that make Newrez’s conventional loans a better choice


Jumbo Loans

Big Jumbo loan gives your customers the ability to borrow more than the traditional loan amounts with a lower down payment requirement.



An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.


VA Loans

The Federal Housing Administration and the Department of Veterans Affairs have increased loan limits - meaning you can now finance more


Refinance Loans

Refinancing is the replacement of an existing debt obligation with another debt obligation under different terms.