Tennessee Conventional Mortgage
Gone are the days when conventional mortgages were hard to get. Nowadays they are the most accessible types of home loans, which explains why over 60% of American homebuyers use them. It’s the same case in Tennessee – more and more homebuyers are preferring conventional home loans over all the other types. There are several reasons for that, top of the list being the fact that lenders do not need a government agency like the VA, FHA or USDA to approve them to lend conventional loans in Tennessee. They are however regulated by Fannie Mae and Freddie Mac.
But perhaps the biggest reasons why conventional loans are popular in the Volunteer State boil down to their flexibility and affordability. Due to the minimal regulation, you can get a Tennessee conventional mortgage that is perfectly tailored to meet your specific needs. For instance, here at HomeRate Mortgage, we help borrowers of all credit scores, income levels, and employment histories to get good deals in conventional mortgages.
Additionally, depending on your credit rating and down payment, you can avoid paying mortgage insurance completely. If you combine that with the current historic low interest rates that lenders are charging for Tennessee conventional mortgages you will see that they can easily rank as the cheapest mortgage options for homebuyers and those seeking to refinance.
That is why our mortgage experts here at HomeRate Mortgage encourage borrowers not to overlook conventional mortgages. We have compiled all the information you need as you consider taking out a conventional mortgage or refinancing to one. With this information you will get to know the benefits, requirements, types, limits and whether it is right for you. If a conventional mortgage is right for you, apply directly through our website and take advantage of our exclusive streamlined process.
Tennessee City Mortgage Service Areas