Conventional Loans: The Queen Bee’s Guide to Your Perfect Hive

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**Buzz, buzz! Ready to find your perfect hive?** 🐝

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Conventional Loans are mortgage loans that aren’t insured by the government (like FHA, VA, or USDA Loans). Instead, they typically meet the lending guidelines set by Fannie Mae or Freddie Mac. These loans often come with better rates, terms, and lower fees compared to other types of loans. 

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**Why Choose a Conventional Loan?**
- **Sweet Rates and Terms:** Typically better than other loan types.
- **Lower Fees:** Save your honey for the fun stuff!
- **Flexible Down Payment:** Ranges from 3% to 20%.

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**Who’s the Ideal Bee for Conventional Loans?**
- Excellent credit
- Steady income
- Reasonable monthly debt
- Down payment ready (at least 3%)

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**Most Common Types of Conventional Loans**

**Fixed-Rate Mortgages:**
Your rate and payment never change – as reliable as a hive in spring!

- **30 Year Fixed Loan:** Lowest fixed monthly payments
- **20 Year Fixed Loan:** Low fixed monthly payments
- **15 Year Fixed Loan:** Lower rate than 20- or 30-year options; Pay less interest and own your hive faster
- **10 Year Fixed Loan:** Even lower rate; Build equity quickly
- **5 Year Fixed Loan:** Lowest rate; Fastest equity building

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**Adjustable Rate Mortgages (ARMs):**
After the initial period, your interest rate can change once a year.

- **3/1 ARM:** Fixed Rate for 3 Years, Adjustable for the next 27
- **5/1 ARM:** Fixed Rate for 5 Years, Adjustable for the next 25
- **7/1 ARM:** Fixed Rate for 7 Years, Adjustable for the next 23

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**Conventional Down Payment Requirements:**
- **Purchase Transactions:** 3% - 20% of the purchase price
- **Refinance Transactions:** At least 10% equity in the property

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**Eligible Property Types:**
- Single-family homes
- Warrantable condos
- Planned unit developments
- 1-4 family residences

Suitable for primary residences, second homes, and investment properties

Find out if a Conventional Loan is right for you by calling/texting us 7 days a week at 941.525.3265.

Let’s get buzzing and find you the perfect loan for your dream hive! 🐝

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