Linour Lending

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Type of Home Loan

Conventional
Purchase Loans

Ready to invest in your Future Dream home?

Embark on your home-buying journey with a mortgage that adapts to your vision. Our Conventional Home Loan offers the freedom to craft a payment plan that fits snugly into your life story. Choose the terms that resonate with your goals and set down a payment that feels right for you and your loved ones. Open the door to your new home with a loan that’s as unique as your dreams.

Conventional Purchase Loan

Is the Conventional Purchase Loan the right choice for you?

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    If this loan doesn't meet your needs, don't worry.

    Explore our other available options.

    VA Purchase Loan

    FHA Purchase Loan

    Jumbo Purchase Loan

    Frequently Asked Questions About

    Purchase Loans

    If you can’t find the answer you’re seeking, don’t hesitate to contact one of our certified loan officers.

    A conventional loan refers to a mortgage that is not secured by a government entity. Unlike loans underwritten by the Federal Housing Administration, the Department of Veterans Affairs, or the Department of Agriculture, conventional loans are subject to the guidelines of Fannie Mae and Freddie Mac. They come in two varieties: conforming, which adhere to the standards set by these government-sponsored enterprises, and non-conforming, which do not meet these criteria and include jumbo loans that exceed lending limits.

    A range of applicants, including those buying their first home, can access Conventional Loans. Qualification hinges on your financial health, creditworthiness, and investment in the property.

    Conventional Loans are attractive for their varied down payment possibilities, favorable interest rates, absence of initial mortgage insurance fees, and the freedom to finance different types of properties.

    • Select a trusted lending institution.
    • Fill out the loan application accurately.
    • Submit necessary financial documents.
    • Allow the lender to conduct a credit evaluation.
    • Await loan confirmation.
    • Finalize the purchase with a closing process.

    Essential paperwork typically includes evidence of income, a comprehensive credit report, details about the property, among others.

    Conventional Loans have varied initial payment options, starting from as low as 3% for certain programs.

    PMI is generally necessary when the initial payment is below 20%, but it can be discontinued after achieving 20% home equity.

    Absolutely, utilizing gift funds from relatives or other benefactors for the down payment is typically permissible.

    On average, it takes 30 to 45 days, but it can vary.

    Purchasing a condominium might necessitate extra paperwork and adhere to specific approval criteria.