Riverbank Finance LLC is a Michigan mortgage company in Grand Rapids, MI specializing in mortgage home loans for both refinancing and new home purchase mortgages. Our extensive list of mortgage programs allows us to offer competitive low wholesale mortgage rates. We hire only the best licensed loan officers to serve our clients and take pride in our superb customer service.
Current Mortgage Rates 15 Years The 15 Year Mortgage Rate is the fixed interest rate that US home-buyers would pay if they were to take out a loan lasting 15 years. There are many different kinds of mortgages that homeowners can decide on which will have varying interest rates and monthly payments.
Conventional Home Loans offer flexible financing options from the first time homebuyer to the savvy investor.
CONVENTIONAL. Conventional loans are not insured by the FHA or VA. Generally, these are a good option for homebuyers with higher credit scores and stable.
Conventional loans can be a great lower cost mortgage option for people who can afford to take advantage of some of its key benefits. One of these benefits is the lack of an additional mortgage insurance payment for borrowers who are able to make a 20% down payment.
A conventional mortgage is a home loan that’s not government guaranteed or insured. Down payments are as small as 3%, but credit qualifications are tougher than for FHA loans and other federally.
If you have a VA loan on your current home, you can refinance it into a conventional loan — but it might only make sense in a few, very particular situations. Since conventional loans typically have higher interest rates and charge monthly private mortgage insurance (PMI) premiums, y
With a conventional loan, which includes both conforming and non-conforming loans, you can get your hands on pretty much any home loan program from a 1-month ARM to a 30-year fixed, and everything in between. So if you want a 10-year fixed mortgage, or a 7-year ARM, a conventional loan will surely be the way to go.
Conventional 97 mortgages are 30-year fixed loans, and do require mortgage insurance. Mortgage insurance is an extra fee on top of the monthly mortgage payment. If you put three percent down into a mortgage calculator, it will calculate the mortgage insurance for you automatically. HomeReady Mortgage
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