Unlike government-backed loans, conventional home loans follow Fannie Mae and Freddie Mac standards, which require stricter guidelines and have firmer rules. For Pittsburgh homeowners that qualify, however, these loans offer many financial benefits, like fixed rates and a low down payment. With Pittsburgh’s housing market on the rise, conventional loans are a popular choice among prospective homeowners, making up 60% of all current home loans.
Advantages of Conventional Home Loans:
- Low, Fixed Rates It’s simple: the lower your rate, the less you will pay in interest each month. With your savings, you can reinvest in your home with major improvements, fund your financial goals, or save it for a “rainy day”.
- Less Paperwork Unlike government-backed loans, conventional home loans require fewer regulations and less paperwork while still allowing homeowners to choose flexible terms. This creates an efficient and straightforward approval process that could be the deciding factor in the purchase of your Pittsburgh home.
- Refinancing Options With interest rates near all-time lows, refinancing an existing mortgage using a conventional home loan will save Pittsburgh homeowners money by offering them a fixed low rate for the remainder of their mortgage.
- Lower Down Payments Conventional home loans can include a low down payment, allowing you to save even more money.
Conventional Home Loans with Golden Oak Lending Pittsburgh
Golden Oak Lending Pittsburgh offers conventional home loans at low interest rates, leading to reasonable, fixed monthly payments. Our personal loan officers will work with you to determine your eligibility and secure a great low rate for your loan. With years of expertise, Golden Oak Lending Pittsburgh knows how to navigate this competitive Pittsburgh housing market and will get you in your Pittsburgh home quickly and effortlessly. Call or contact us today.