03/06/2022
Hey I’m Back! 👋🏽👋🏽👋🏽 And I have so much to share but today’s topic is Conventional loans. Now you’re probably wondering what is a conventional loan and how can you qualify for one? As your local realtor I’m here to give you insight
A conventional loan is a loan not backed by the government, they are insured by private lenders such as banks, credit unions, and other financial institutions. To qualify you’ll need a credit score of 620, low debt-to-income ratio, and a downpayment of 5-20%
Also, with so many financial programs available to buyers now you can even get a lower down payment as little as 3%
are you thinking of going conventional for your next home? Comment below 👇🏾👇🏾👇🏾
◻️ Rashada House, eXp Realty
◻️ Chicago Real estate Broker
◻️ (312) 612 - 0513
◻️ [email protected]