Maryland Conventional Loan

 

A conventional mortgage loan is simply a home loan that is not backed by the government. It is, however, regulated by government sponsored enterprises (or GSEs) like Fannie Mae and Freddie Mac. The minimal government involvement in these loans makes it possible for lenders to tailor them for very specific demographics. For instance, in Maryland, you can get a conventional loan for any type of property, be it a primary residence, secondary home or investment property.

Down payment rules also vary depending on the lender and your qualifications, but mostly you will need anything from 3 to 20% of the loan value. The same flexibility applies to credit score, assets and income. If you are shopping around for a good mortgage deal, then a Maryland conventional loan is definitely worth your consideration, if not for anything else other than its flexibility.

Unsurprisingly most Americans actually prefer conventional mortgage loans, with well over 60% of all home buyers choosing it over all the other types of loans. The situation is not so different here in Maryland, and we will tell you why that is the case. We have also covered the benefits and eligibility requirements for a Maryland conventional loan among many other things.

In case you are thinking of buying a home in Maryland using a conventional mortgage loan we may be able to help. TJC Mortgage allows you to make an application directly through our website. Our staff will help you not only get the best mortgage deal but also get approved for it. Talk to us today, and we will kick start the process that will end with you being a Maryland homeowner.

Maryland City Mortgage Service Areas