Because Metro Mortgage has your Fannie covered!

The terms Conventional and Conforming refer to loans that conform to guidelines of Fannie Mae and Freddie Mac.  Fannie Mae and Freddie Mac actually fund the vast majority of mortgages in the United States.  "Fannie" and "Freddie" set parameters for the various programs they offer  A mortgage must conform to those parameters in order to be funded.

Unlike Government loans, like VA and FHA, there is a broad selection of Conforming mortgage products available.  But unlike Government loans, the rate and pricing you get is based on the amount you have as a down payment, and your credit score.  So, in many cases, Conventional loans are better suited to people moving into into their next home, as opposed to first time home buyers with a limited down payment.  But not always!

Conventional mortgages also come with private mortgage insurance, if you don't put 20% down.  But in many cases, the pricing for private mortgage insurance is lower than even FHA pricing.

There are many variables.  Contact us, and we will guide you to the best option for you!