What is a Conventional Mortgage Loan?
A conventional loan is any loan not insured or guaranteed by a government agency such as (FHA) Federal Housing Administration, (VA) Department of Veterans Affairs and (FmHA) Farmers Home Administration. Convention Loans are secured by Fannie Mae or Freddie Mac. Conventional Mortgage Loans a great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity. Superior Mortgage Lending LLC is a leading provider of Conventional Mortgage Loans in Las Vegas, Henderson, North Las Vegas, Summerlin as well as the state of Nevada. For more information on Conventional Mortgage Loans contact us today at (702) 507-4170.
How Much House Can Your Afford?
Before you start shopping for a new home, determine how much you can afford to spend. Your full mortgage payment cannot exceed a third of your gross monthly income. So if your monthly gross income is $3,000 than your mortgage payment should not exceed $1,000 including (PITI) Principal, Interest, Taxes and Insurance.
Here are few things to consider:
- Your monthly income
- Your available funds for down payment
- Your monthly expenses
- Your credit score
It’s very important to consider getting pre-approved from a licensed mortgage professional. An Independent Mortgage Professional such as a Mortgage Broker will be able to offer you several loan options and find you the best available loan programs for your needs. Call today to speak with a Mortgage Professional and get a Pre-Approval (702) 507-4170
Lender Services and Products
Did you know? Maxwell and HousingWire recently teamed up to survey lenders across the country and found that 70% of lending institutions are either actively purchasing or already have a digital mortgage solution in place. Even in a challenging and constrained market, lenders understand the impact that a technology-fueled process can have on internal efficiencies, close times, borrower satisfaction, and referral volume. Don’t get left behind! Maxwell’s lightweight and easy-to-implement technology empowers your team to amplify productivity, delight borrowers, and close more loans — faster. Today, lending teams on Maxwell are closing loans 45% faster than the national average, helping them achieve the ROI they deserve from a technology partner. Request your custom demo today!
3W Partners is leading client efforts to market a national title agency that is a custom-built centralized transaction platform, including purchase money transactions, and is completely digital, end-to-end. The agency is in growth mode, and because of the digitization and variable cost infrastructure, margins increase exponentially as volume grows. Has capability to scale services on-demand without making significant staffing changes, and is SOC2 Type II certified, the ultimate in information security. This is a great opportunity for the right buyer that will be deemed as a “good shepherd” of the business and its people, especially for a lender looking to control costs and the borrower experience. Serious inquiries only, to be vetted before sharing any information. No fishing expeditions here. To learn more, contact Scott Roller.