Conventional Norman mortgage loans are mortgage loans offered by lenders and these loans are non-government sponsored. A conforming, or conventional, mortgage adheres to the guidelines set by Freddie Mac & Fannie Mae. It also may have either a fixed or adjustable rate. While many people think that a 20% down payment is required for all conventional loans, the truth is that many lenders now offer low down payment options! Have any questions? Give us a call today at 877-266-4138 for a quick quote on your conventional home loan. We are happy you visited NormanOKMortgage.com.
In Oklahoma the maximum for a conforming conventional loan is $424,100 which will allow you to buy a really nice home with as little at 5% down in most cases. If you find a home that is in this range the best product for a Norman mortgage would be a conventional loan. When you are purchasing a home that is significantly above the loan limit for FHA the best loan product will be a conventional loan. Total Lending Concepts offers low rates and great down payment options for conventional loans and we make the approval process easy by pre-underwriting your loan while you are out looking for your dream home. Most of the time we issue a loan approval before you enter into a contract on a home. This allows us to get the bulk of the work need to get you closed on your Norman mortgage out of the way before you even find a home.