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Conventional Loans

Valor Mortgage helps home buyers who are looking to purchase a home in Tennessee through the assistance of a convenctional loan.

Purchase A Home With As Little as 3% Down.

Conventional loans are a popular choice for many homebuyers. These loans are not backed by the government, which means they're offered by private investors. To qualify for a conventional loan, you'll typically need a good credit score of 620 or higher, stable income, and a down payment of at least 3%. Understanding how much of a down payment you need can help you make better loan choices.


Benefits of a Convenctional Loan


Flexible Interest Rates

Conventional loans can offer more flexible interest rates, especially if you have a strong credit history.


Low Down Payment

Conventional loans are available for homebuyers with as little as 3% down, making them more accessible.


Privately Funded

Because conventional loans aren't backed by a government agency, lenders have more freedom to offer flexible options.

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Higher Loan Limits

The lack of government involvement also means you'll usually be able to access more funds with a conventional loan.


Conventional Loan Requirements.

In order to apply and qualify for a conventional loan in Tennessee, home buyers must have a:

  • Minimum credit score of 620
  • Minimum down payment of 0-5%
  • Favorable Debt-to-income ratio
  • Loan amount within local conforming loan limits
  • Proof of stable employment and income
  • Clean credit history (no recent bankruptcy or foreclosure)

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