Conventional

Choose the tried-and-true path to homeownership with Mohave Mortgage's Conventional Loans, the most common and widely embraced mortgage product. Perfect for individuals with a solid credit score and minimal debt, conventional loans, also known as conforming loans, adhere to the guidelines set by government-sponsored enterprises like Fannie Mae and Freddie Mac. These guidelines include specific loan amount limits, credit score requirements, and other underwriting standards that establish them as lower-risk options for lenders.

Key characteristics of conventional loans include defined loan limits that vary by location, and accommodating regional housing market conditions. Borrowers typically need a credit score meeting the minimum standards set by government-sponsored enterprises, underlining the importance of good credit for securing a conforming loan. With varying down payment requirements, conventional loans often offer more favorable terms for those making substantial down payments. The loan-to-value ratio, reflecting the ratio of the loan amount to the appraised property value, is another crucial factor, with lower ratios often preferred.

In contrast to non-conforming jumbo loans that exceed maximum limits, Mohave Mortgage also offers Jumbo Loans for those seeking options beyond the conventional spectrum. Trust in the reliability and widespread acceptance of Conventional Loans from Mohave Mortgage as you take the steps towards realizing your homeownership dreams.