In addition to FHA, VA and USDA loans, PRMI has a wide range of programs available for conventional mortgages in Richmond.
As compared to government agency-backed mortgages, conventional home loans are backed by private lenders or government-sponsored, private organizations such as Fannie Mae and Freddie Mac. Conventional loans offer maximum flexibility and speed, making them the ideal choice for many borrowers.
Conventional mortgage programs typically have fewer documentation and underwriting requirements. This means that, in most cases, you can close on a convention loan more quickly than you might otherwise would, under a different type of loan program. You can use these loans to purchase an existing home, a new build home, or for a conventional refinance loan for your current house.
When you work with the right Richmond mortgage lender, you can even find conventional mortgages with low down payments and generous loan terms. We have loan programs with 15-year and 30-year terms as well as options for both adjustable and fixed-rate mortgages.
Is a conventional mortgage right for you? The best way to find out is to talk to a reputable local mortgage company. In Richmond, the mortgage loan lenders at PRMI understand how to find the best home loan for your needs. We are known for our attention to detail and dedication to customer service. Contact us now to learn more or to speak directly to one of our experienced mortgage lenders in Richmond.