Align Lending
Align Lending
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  • First Time Buyer
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    • Conventional Loans
    • FHA Loans
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    • USDA Loans
    • Jumbo Loans
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  • More
    • Home
    • Why Align?
    • First Time Buyer
    • Joint Venture
    • Apply now
    • Products
      • Conventional Loans
      • FHA Loans
      • VA Loans
      • USDA Loans
      • Jumbo Loans
      • Cash-Out Refinances
    • Contact Us
    • About
      • Testimonials
      • FAQs
      • About
      • Careers
  • Home
  • Why Align?
  • First Time Buyer
  • Joint Venture
  • Apply now
  • Products
    • Conventional Loans
    • FHA Loans
    • VA Loans
    • USDA Loans
    • Jumbo Loans
    • Cash-Out Refinances
  • Contact Us
  • About
    • Testimonials
    • FAQs
    • About
    • Careers

Conventional Mortgages

Conventional mortgages provide the consistency and flexibility many homeowners need to purchase their dream home with a low downpayment and several loan terms available. 

What is a Conventional Loan?

As the most popular loan type, conventional loans fit a variety of properties and buyers. Unlike other loan types, conventional loans aren’t backed by a government agency. Instead, they meet the downpayment and income requirements for Freddie Mac or Fannie Mae.

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Benefits of Applying for a Conventional Loan

Benefits of Applying for a Conventional Loan

Benefits of Applying for a Conventional Loan

Depending on your current financial situation and homeownership goals, you can take advantage of several benefits that come with taking out a conventional loan: 


  • Consistent monthly payments throughout the life of the loan for better security
  • Faster underwriting with less paperwork and inspections
  • The loan full amortizes over the term of the mortgage
  • More term options depending on your needs
  • Optional escrow accounts
  • Ability to buy a primary home and investment property

Qualifying for a Conventonal Mortgage

Benefits of Applying for a Conventional Loan

Benefits of Applying for a Conventional Loan

Conventional loans are great options for homebuyers with a decent credit score, little debt, and cash flow for a downpayment. Here’s how to qualify:


  • Downpayment as low as 3% for your primary residence
  • Downpayment as low as 10% for a secondary residence
  • Verifiable employment and income
  • Private mortgage insurance (you can remove this once you reach 20% equity)
  • A credit score of 620+
  • Debt-to-income (DTI) for 50% or lower
  • Loan size up to $647,200

Getting started with Align Lending

 Ready to purchase or refinance your home? Apply today with Align Lending to learn more about your options! 

Apply Now

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