Omega Mortgage Groups conventional fixed-rate mortgage loans come in a variety of options and with excellent advantages for qualified borrowers. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types.
Short on a down payment? Here are a few conventional low down payment options:
HomeReady™ is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing.
Designed for low-to-moderate-income home buyers and/or individuals purchasing or refinancing properties in target areas.
Maximum financing (LTV/CLTV) and minimum credit score requirements are determined based on the loan product type
Private Mortgage Insurance (PMI) is required on conventional loans with an LTV > 80%.