If you ask our Home Lenders in Navarre, a conventional loan is a great option for clients with a solid credit rating and low debt ratio looking to purchase or refinance a primary residence, second home or investment property. With a down payment of 20% or more of the purchase price, you can avoid Private Mortgage Insurance (PMI) entirely. Low fixed rate options with 30, 25, 20 & 15 year terms available.
- Purchases and Refinances for most residential property types.
- Primary Residence purchases – require a minimum down payment of 5% of the purchase price. First time homebuyers may qualify for a special program requiring only a 3% down payment, so inquire with your MLO for details.
- Second Home purchases – require a minimum down payment of 10% of the purchase price.
- Investment property purchases – require a minimum down payment of 20% or more.
Contact expert Home Lenders in Navarre today to get started! (850) 936-0422