Conventional Mortgage Loans
A conventional mortgage loan is ideal for borrowers with excellent credit and funds for a down payment.
Benefits of Central Bank Conventional Home Loans
- In-house processing and underwriting, which means fast approval and local decision making
- Up to 97% loan-to-value financing*
- Fixed- and variable-rate terms
- No private mortgage insurance with 20% down payment
- Available for primary residences, second homes, and investment properties
*Based on approved credit
More About Conventional Mortgage Loans
Conventional Mortgage Loan FAQs
How much money does a conventional loan require for a down payment?
Conventional home mortgage loans typically require the home buyer to invest between 3% and 20% of the sales price in cash for the down payment and closing costs. For example, if the sales price is $100,000, the home buyer must invest at least $3,000 to $20,000 to meet conventional mortgage down payment requirements. If a home buyer can put down at least 20% of the sales price, they will not be required to have mortgage insurance.
How can I get started?
It’s simple. Just fill out an application online or call one of our Mortgage Advisors to assist you over the phone or meet you in person.