Any purchase mortgage which is not insured or guaranteed by a government agency such as FHA, VA, and USDA are considered a conventional purchase loan.
Conventional Purchase Benefits :
- Down payments as low as 3%
- No prepayment penalty
- Conventional purchase loans allow purchases of single family homes,condominiums, investment properties, cluster homes, and second homes.
- The max loan amount is $453,100
CHM Lending is a local mortgage broker founded in 1992 and located in Medina, Ohio. Our company offers a full range of mortgage loan products including Conventional, FHA, VA, USDA, Construction, and Renovation loans. Our team has a combined over 45 years of experience in the mortgage industry and was voted Best of The Best in Medina County in 2017 & 2018. We use a common sense approach with all of our clients and we work with many different lenders to be able to offer the most competitive rates and costs coupled with amazing customer service.