Conventional Fixed Rate Mortgage Options from MidCountry Bank

Conventional Fixed Rate Mortgages

A conventional mortgage requires that the homebuyer put at least 20% of the property value down at closing.

While a conventional loan is not a government insured loan, it must follow the guidelines set by Fannie Mae or Freddie Mac, government-sponsored mortgage corporations.

Who Does the Conventional Fixed Rate Mortgage Product Benefit?

  • Borrowers who plan to stay in the home for the long term
  • Borrowers concerned about variable rates
  • Borrowers with 3% + down payment available
  • Borrowers who do not anticipate large income increases over the next 10 years

If you have a good credit rating and can afford to make a substantial down payment, a conventional fixed mortgage may be the ideal choice for you, as you can build up equity in your home fairly quickly.

Complete Homebuyer's Mortgage Guide

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Minimum and Maximum loan amounts apply. Rates and programs subject to change at any time. Loans subject to borrower qualifications, property evaluation and credit approval. All rates and program guidelines subject to change without notice based on consumer eligibility and marketing conditions. All loans subject to credit approval and compliance with underwriting standards.

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