Pittsburgh Conventional Home Loan and Conventional Mortgage Loans

By
Mortgage and Lending with First Capital Mortgage Group

Pittsburgh Pennsylvania Conventional Home Loan and
Conventional Mortgage Loans for New House Buyers

Looking for a conventional home loan / mortgage for purchasing
a home in the Pittsburgh Pennsylvania area? Contact Justin Rosenal
at First Capital Mortgage Group for help with applying, processing
and funding conventional home loans in the Pittsburgh and Allegheny
County area.

Mortgages break down into conventional loans and non-conventional home
loans. Those that are not conventional are backed by the federal government
through programs like the FHA, VA or USDA. These loans are offered to first-time
home buyers, veterans, those purchasing homes in rural locations and other
specific buyers.

Conventional mortgages do not have a federal guarantee and can be further
classified into those that follow federal guidelines and those that do not.
Mortgages offered through federally sponsored entities Freddie Mac and
Fannie Mae do follow government requirements. Other commercial loans may
not, making the conventional mortgage option more flexible for some buyers.

Apply for a Conventional Mortgage Loan in Pennsylvania

If you are looking to apply for a conventional mortgage loan use
the link below to get started or contact loan officer Justin Rosenal
for more information. 

Apply Online for a Conventional Single Family Home Loan

Mortgage Officer Justin Rosenal
Licensed by the PA Department of Banking NMLS# 336744
First Capital Mortgage Group
Manor Oak II 1910 Cochran Road Suite 545 Pittsburgh, Pa. 15220
Office 412-942-1020 ext 22 / Cell 412-913-0756
Email: jrosenal@hotmail.com
Conventional Home Loan Company

Pittsburgh Conventional Home Loans for buying real estate in Pennyslvania



What is Required to Qualify and Get a Conventional Home Loan
in the Pittsburgh Pennsylvania area?


Requirements for Obtaining a Conventional Mortgage in Pennsylvania
 
In most cases, a buyer should be aware that conventional financing may not be available if the home in question will bring housing costs above 28 percent of their monthly income. Most lenders calculate housing costs by adding the estimated monthly payment, property taxes and required insurance. If this total is $1,000 per month and the household or individual income is less than $3,570 then a conventional loan may not be possible.  Potential buyers will need to discuss their particular situation with a mortgage professional.
 
Generally, most lenders offering conventional financing have a minimum FICO score requirement of 620.   A conventional lender is more likely to look at trends and consider each applicant individually rather than deny the loan based on a single negative event in the credit history. This means that if you have a late payment or delinquency still showing up on your report but in the years since have had a perfect record, the lender may be willing to look past the history.
 
Unlike federally backed loans like the USDA mortgages, conventional mortgages require a down payment. In most cases, lenders will want to see 5 to 10 percent down. On a $200,000 house, you may need to cover $12,000 to $25,000 in upfront costs once you calculate down payments, taxes, fees and closing costs. If you plan on seeking the conventional route, it’s a good idea to start saving early.
 

Benefits of Pittsburgh Conventional Loans
 
There are several possible benefits to conventional mortgages for people who can qualify. First, conventional mortgages come in more term lengths than some other loans, including terms that range between 10 and 40 years. Finally, there is usually not a penalty for most conventional conforming mortgages, making it a good option for those who plan to pay off debt early.
 
No matter what type of mortgage you apply for, you should always do your homework regarding interest rates and the company you are dealing with. This is especially true with conventional lending that may not conform to government standards.
 
Visit www.pittsburghomeloans.com to learn more about conventional loans. Loan Officer Justin Rosenal and the staff at First Capital Mortgage Group can assist you in finding the right mortgage type for your home purchase.

We specialize in a wide range of home loans and mortgage programs including
FHA, VA, USDA, Jumbo and Conventional Home Loan Programs.

If you are looking to apply for a conventional mortgage loan use
the link below to get started or contact loan officer Justin Rosenal
for more information.

Apply Online for a Conventional Mortgage Home Loan

Mortgage Officer Justin Rosenal
Licensed by the PA Department of Banking NMLS# 336744
First Capital Mortgage Group
Manor Oak II 1910 Cochran Road Suite 545 Pittsburgh, Pa. 15220
Office 412-942-1020 ext 22 / Cell 412-913-0756
Email: jrosenal@hotmail.com
Conventional Mortgage Home Loan Company

Pittsburgh Conventional Loans Serving The Pittsburgh Pennsylvania area.

Contact Justin Rosenal for a free consultation on getting
a Conventional Mortgage Loan for your next Pittsburgh real estate purchase!

Search Pittsburgh Real Estate Listings for Sale click here

Conventional Mortgage Company serving Pittsburgh area residents with
home loans, mortgages and resources.
http://activerain.com/blogsview/3630789/conventional-home-loan-company-pittsburgh-pennsylvania

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