Flexible Home Financing with Conventional Mortgages
At Contemporary Mortgage Services, we offer conventional mortgages that provide flexible and competitive financing options for homebuyers. Unlike government-backed loans, conventional mortgages are not insured by a federal agency — giving borrowers more choices and potentially lower overall costs.
A conventional mortgage is ideal for borrowers with strong credit histories and stable financial backgrounds who want greater flexibility in loan terms and conditions.
Benefits of a Conventional Mortgage
Variety of Loan Options
Choose from fixed-rate, adjustable-rate, and other loan structures to suit your financial needs.
Lower Overall Costs
Conventional loans often have lower interest rates and no upfront mortgage insurance fees.
Avoid PMI
Put down at least 20% and eliminate Private Mortgage Insurance, reducing your monthly payments.
Flexible Terms
Choose from a range of term lengths — 10 to 30 years — to customize your repayment plan.
Higher Loan Limits
Access higher loan amounts compared to some government-backed options, ideal for more expensive homes.
Is a Conventional Mortgage Right for You?
A conventional mortgage might be the right choice if you:
- Have a strong credit score and financial history
- Can afford a down payment of at least 5% (20% to avoid PMI)
- Prefer flexibility in loan terms and repayment options
- Want to avoid the fees associated with government-backed loans
- Are purchasing a home within the conforming loan limits
Conventional loans come in all shapes and sizes — from as little as 3% down to 20% or more.
Our Conventional Mortgage Options
Fixed-Rate Mortgages
Predictable monthly payments with a consistent interest rate. Ideal for long-term homeownership.
Adjustable-Rate (ARMs)
Lower initial rates with adjustments at set intervals. Great for those planning to sell or refinance.
Conforming Loans
Meet Fannie Mae and Freddie Mac guidelines for lower rates and more favorable terms.
Non-Conforming Loans
Options for higher loan amounts or borrowers who don't meet standard conforming criteria.
The Application Process
Securing a conventional mortgage with Contemporary Mortgage Services is simple and straightforward:
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Consultation — Speak with one of our experienced Loan Originators to discuss your financial situation and find the best conventional loan option for you.
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Prequalification — Get prequalified to understand your borrowing potential and find out how much you can afford.
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Application — Complete the mortgage application with our team's guidance, ensuring all necessary documentation is provided.
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Approval — We'll process your application and, once approved, lock in your loan terms.
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Closing — Sign the final documents and enjoy the benefits of your new conventional mortgage.