Conventional
Conventional
For those who seek traditional financing with competitive rates, ASCEND Lending's conventional home loan program can help you find the best terms and rates for your financial situation.
What is a
Conventional Loan?
Conventional loans are mortgages that are not insured or guaranteed by the government. They are the most common type of home loan in the United States and are available through a variety of lenders, including banks, credit unions, and online mortgage companies.
Product Features
Down Payment Requirements
This type of loan typically requires a down payment of at least 3% to 20% of the home's purchase price. The exact amount depends on factors like the borrower's credit score and the lender's policies.
Credit Score Requirements
Conventional loans generally require a credit score of 620 or higher, although some lenders may have stricter requirements.
Loan Terms
Conventional loans generally require a credit score of 620 or higher, although some lenders may have stricter requirements.
