Conventional Products
常規產品
A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs).
Conventional loans can be conforming or non-conforming.
傳統貸款是指不受政府保險或擔保的任何抵押貸款
（例如聯邦住房管理局、退伍軍人事務部或農業部貸款計劃）。
傳統貸款可以是符合或不符合的。
Conforming loans have maximum loan amounts that are set by the government. Other rules for conforming loans are set by Fannie Mae or Freddie Mac, we provide backing for conforming loans
符合條件的貸款有政府設定的最高貸款額。
合規貸款的其他規則由房利美或房地美設定，我們為合規貸款提供支持。
Conventional home loans have a lot of their own advantages despite the requirement of a higher credit score.
First, there is no required up front mortgage insurance as there is with an FHA. Secondly, if the home buyer borrows less than 80% of the value (20% or more down payment) then a mortgage insurance premium isn’t required. In many cases, by having the money available upfront, the homebuyer may have lower monthly payments than an FHA loan with the minimum down payment.
Conventional loans can be fixed-rate or adjustable rate and depending on the length of the mortgage, specific ones may prove to be better.
A fixed-rate mortgage has an interest rate that won’t change for the life of the loan. Adjustable Rate Mortgages (ARMs) feature a fixed interest rate for a small period of time, typically 3 to 10 years, and then fluctuate up or down for the subsequent years. ARMs are typically sought by people who plan on moving from the house within a few years.
If the homebuyer doesn’t place 20% or more for the down payment, private mortgage insurance (PMI) can be eliminated when the loan to value is paid down below 80%.
Conventional loans can also be used to borrow a greater amount than FHA loans and can also be used to purchase investment properties and second homes.
Conventional Loans:
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No Upfront mortgage insurance
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No Mortgage insurance required with 20% down payment
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Less strict appraisal standards
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Mortgage insurance can be eliminated at 80% LTV
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Can be used for investment property
儘管要求較高的信用評分，但傳統的住房貸款有很多自己的優勢。
首先，不像 FHA 那樣需要預先抵押貸款保險。其次，如果購房者藉款少於價值的 80%（20% 或更多首付），則不需要抵押保險費。在許多情況下，通過預付資金，購房者的月供可能低於最低首付的 FHA 貸款。
傳統貸款可以是固定利率或可調整利率，根據抵押貸款的期限，具體的貸款可能會更好。
固定利率抵押貸款的利率在貸款期限內不會改變。可調整利率抵押貸款 (ARM) 的特點是短期內（通常為 3 到 10 年）的固定利率，然後在隨後的幾年中上下波動。打算在幾年內搬離房屋的人通常會尋求 ARM。
如果購房者沒有支付 20% 或更多的首付，當貸款價值低於 80% 時，可以取消私人抵押貸款保險 (PMI)。
與 FHA 貸款相比，傳統貸款還可用於借入更多金額，也可用於購買投資物業和第二套住房。
常規貸款：
- 無預付抵押貸款保險
- 無需抵押保險，首付 20%
- 較不嚴格的評估標準
- 抵押貸款保險可以在 80% LTV 時取消
- 可用於投資物業
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