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Ready to begin your Conventional Home Loan application?

A Conventional loan can require as little as 3% down, making it a great option for those who do not want an FHA loan. While Conventional loans do require mortgage insurance if you are putting less than 20% down, you can cancel the mortgage insurance after your home equity reaches 20%

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What Is A Conventional Loan?

A Conventional home loan can offer great rates and flexible qualifying guidelines and terms. A Conventional loan is also known as a Conforming Loan because it conforms to the standards set by Fannie Mae and Freddie Mac—which are two agencies that help standardize the mortgage industry.

Flexible Down Payment Options

While you may choose to pay as little as 3% down, a 20% minimum down payment is required to eliminate the need for mortgage insurance.

Enjoy The Best Rates

Available in Fixed Rate or Adjustable Rate (ARMs) options. Borrowers with high credit scores and a good down payment will benefit most from conventional loans. At Pando Mortgage, because we pair with some of the best Wholesale lenders, we can offer you the lowest interest rate.

Lower to No Mortgage Insurance

No monthly mortgage insurance required with a down payment of at least 20%. Lower mortgage insurance costs than an FHA mortgage

Supports Most Loan Purposes

Another key benefit of a conventional loan is its flexibility to be applied to many different kinds of properties. Conventional loans can be used to finance a primary residence, a second home, or a rental property.

Customer Reviews

See what our customers have to say about Pando Mortgage products, people & services.

“Stephen Rinaldi at Pando Mortgage was simply the best! All of our loan needs were met and he was on top of everything all the time. Do yourself a favor when looking for a mortgage and contact Steve and the team at Pando, you will not be disappointed!”

Robert W.

“We worked with Steve Rinaldi on the purchase of a new home. On the initial call, Steve took the time to explain the process and make sure all of our questions were answered. We took advantage of his offer to be available 24/7 in having him run numbers as we visited over 17 homes in the course of two months. Each time he was quick to respond, including on weekends. I am certain we received the best possible outcome on our new mortgage by going through Steve Rinaldi and the Pando team!”

John L

“Stephen Rinaldi was fantastic! He made the whole process go very smoothly and super helpful with any questions we had. Great experience!”

Lauren H

Conventional Loan FAQ

A Conventional home loan is a loan that is not formally backed by any government entity such as FHA, VA, and USDA. Rather, it is a loan that follows guidelines set by Fannie Mae and Freddie Mac, two agencies that help standardize mortgage lending in the U.S.

If you’re considering a conventional home loan, keep in mind:

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A Conventional loan can require as little as 3% down, making it a great option for those who do not want an FHA loan. While Conventional loans do require mortgage insurance if you are putting less than 20% down, you can cancel the mortgage insurance after your home equity reaches 78% Loan-to-Value. Even better, Conventional financing does not require upfront Mortgage Insurance like an FHA.

Conventional financing appeals to a wide demographic, although it is best suited for those with a good credit score. While you can still qualify with a lower score, there may be higher costs associated with your mortgage. If you have good credit and money for a down payment, you can take advantage of some great options with a Conventional loan. Be sure to check with your Mortgage Loan Officer about your specific situation.

Fannie Mae’s HomeReady® Loans: Borrowers with low to moderate income now have a program they can turn to when they’re ready to take the plunge into home ownership. With this unique program, you can use the combined income of everyone in your household toward qualifying for a home loan, including rental payments you receive as income. And you don’t even have to contribute any of your own money. With aHomeReady® loan, your down payment can come from a gift or grant.

When most people think of mortgages, they think about 30-year fixed rate loans. There are lots of reasons that borrowers choose the 30-year fixed but the most popular is probably the security of knowing what you’ll be paying over the life of your loan. While some people know they will only be in their homes for a finite amount of time and an adjustable-rate mortgage (ARM) will save them money, many prefer the added predictability of a fixed-rate loan.

The 30-year term has also proven to be popular with borrowers due to how it spreads payments over a long period while providing first-time home-buyers with an opportunity to live in a mortgage-free home for a portion of their lives. As the average age of first time home-buyers is estimated to be around 33-years-old, some homeowners will pay off their mortgage before retirement age and own their homes outright, greatly reducing their monthly expenses later in life.

Pre-Payment features to Conventional home loans are not currently offered by Pando Mortgage. These are considered riskier types of financing.

Yes! Pando Mortgage has a whole lineup of refinance options. If you are thinking of doing a cash out loan for a renovation or a rate and term reduction out of an ARM, we have the product for you. Borrowers who are refinancing also often choose Conventional loans to save money compared to their existing mortgages. For example, FHA borrowers may transition to a Conventional loan in order to eliminate mortgage insurance while getting a great rate.

We are Here to Help You

Our mission at Pando Mortgage is to pair you with someone passionate, who will guide you through the mortgage financing process and be your advocate during one of life’s most important moments. We believe that the mortgage industry can do better; let us prove it to you!


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Media, PA 19063

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