Conventional Loan and Mortgage Services for Phoenix, AZ
Conventional programs require a FICO score of 620. Some programs allow scores as low as 620. Conventional Loans offer up 97% financing with no investor overlay. 1st time home buyer or new purchase in 3 years have options for only 3% down.
Private Mortgage Insurance
While conventional loans are available with only 3% to 5% down, putting up less than 20% will require you to carry private mortgage insurance (PMI). Mortgage insurance is a small fee, added to your monthly mortgage payment, which protects lenders should the loan go into default.
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FAIRWAY MORTGAGE - THE POTEMPA TEAM
5450 E High St #275
Phoenix, AZ 85054
NMLS – 454708
4750 S. Biltmore Lane, Madison, WI 53718
NMLS Entity ID # 2289
NMLS Consumer Access