Conventional Loans

Conventional mortgages form the backbone of the American housing market, offering a versatile and widely accessible form of home financing. A key aspect of conventional mortgages is their connection to government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac, which play a pivotal role in the mortgage industry.

Fannie Mae and Freddie Mac are responsible for setting the underwriting guidelines that determine what makes a conventional mortgage "conforming." These guidelines encompass credit score requirements, debt-to-income ratios, loan-to-value ratios, and loan limits, providing a standardized framework for lenders across the nation. This consistency ensures that conforming conventional mortgages adhere to a common set of rules, promoting stability and trust in the housing market.

Conventional Mortgages are ideal for borrowers with good credit, stable income, and a solid financial history. They offer a greater choice in terms of loan size, term length, and interest rates. Conventional mortgages can be used for various property types, including single-family homes, condos, and multi-unit properties.

At Murray Mortgage Solutions, we specialize in helping you navigate the complexities of the mortgage process from start to finish. Our knowledgeable team will guide you through the process, ensuring you understand the requirements and helping you choose the loan option that best fits your needs.