Conventional Purchase Loans
Omega Mortgage Group conventional loans come in a variety of options and with excellent advantages for qualified borrowers. While FHA and other government loans can have certain property restrictions, a conventional loan can be used on nearly all property types.
SHORT ON DOWN PAYMENT? HERE ARE A FEW CONVENTIONAL LOW DOWN PAYMENT OPTIONS:
HomeReady™ is a fixed-rate, affordable housing program for creditworthy, low-to-moderate income borrowers offering up to 97% financing.
Freddie Mac Home Possible® Advantage
Designed for low-to-moderate income homebuyers and/or individuals purchasing or refinancing properties in target areas.
Maximum financing (LTV/CLTV) and minimum credit score requirements are determined based on the loan product type
Private Mortgage Insurance (PMI) is required on conventional loans with an LTV > 80%.