When it comes to financing a dream home, a conventional loan from Southeast Home Loans might be the most ideal solution.
Conventional loans are mortgage loans not backed by a government agency. These are the most common types of mortgage loans for homebuyers. Some popular conventional loans include:
Conventional loans are an ideal choice for a short-term, adjustable-rate mortgage. Compared to a fixed-rate loan, this option comes with a lower interest rate, which may save thousands of dollars to refinance the loan, sell the home, or pay off the mortgage entirely!
*Introductory rates do expire & interest rates and monthly mortgage payments may increase or decrease each year depending on the market.
It’s important to be aware of the stricter guidelines that come with a conventional loan. The three most important requirements include: a credit score at a minimum of 620, a minimum down payment of at least 3%, and a maximum debt-to-income ratio of 43% to 49%.
Our HomeReady Special Purpose Credit Program (SPCP) is a conventional loan product that comes with ZERO income restrictions.
With this loan, the borrower will receive a $5000 grant applied to their down payment, plus up to $500 toward a 1 year warranty as well as up to $500 towards appraisal costs. At least one person on the application must be a first time borrower, and all parties must reside in this home as their primary residence.
Applicants must currently reside in the approved census track within the cities of:
If you’re a match for these requirements, contact us for more information to get started with your enrollment!
Southeast Home Loans, LLC. was founded in 2020 by Karlton Govan with the objective of making homeownership affordable by offering accessible mortgage lending options. The company’s mission is to provide affordable home loans to individuals, acknowledging the significance of homeownership in attaining financial stability, strength, and independence. Southeast Home Loans, LLC is firmly committed to realizing this dream by continuing to offer affordable mortgage solutions and supporting clients throughout their homeownership journey.
Company NMLS: 1927621
