About Conventional Loans
Mutual of Omaha Mortgage offers conventional loan programs to well-qualified borrowers. Conventional loans have terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac.
With favorable rates and terms, conventional loans have been a popular choice for homebuyers. If clients are able to meet the down payment, income and credit requirements, conventional loans typically offer more flexibility and a wider array of loan programs and terms. And Mutual of Omaha Mortgage offers fixed-rate and adjustable rate conventional mortgages to meet the lending needs of your clients.
Conventional Loan Features
- 3% Minimum down payment
- FICO requirements:
- No minimum – Approved AUS Findings
- Manual UWs not allowed
- PMI required on all loans over 80% LTV
- 10, 15, 20, 25 and 30 year loan terms available
- 1-4 unit primary residences, condos, PUDs, second homes or investment properties
- 2/1 and 1/0 buydown available
