Conventional loans make up the majority of the home loans in the United States. Simply put, a conventional loan refers to a mortgage that is secured not by a government entity but instead through a credit union, bank or mortgage lender. However, there are lending agencies that are sponsored by the government but are not part of government agencies such as the USDA, the VA or the FHA.

If you are interested in a conventional loan, you will need to complete an application as well as the required documentation. Part of the qualification process is determining your ability to make your mortgage payments. You will need to have a credit report and usually a background check. Part of the application process will involve evaluating your debt-to-income and your financial assets versus your liabilities. Aside from your down payment for your home, you will be responsible for fees for originating and processing your loan.

If you would like to learn more about conventional loans, call Simplify Home Loans LLC today at 888-690-1744. Our mortgage officers and every member of our team have taken the stress and complexities out of the mortgage process. We will handle the headaches and help you find the loan that is right for you.