Obtaining a conventional mortgage loan can be quite beneficial over the other loan options. The conventional loan is flexible because it does not require any mortgage insurance with 20% down. And with less than 20% down it provides various flexibility in underwriting guidelines.
The ideal conventional borrower has a higher credit score and a greater down payment, however options with less of a down payment are available. The agreeable feature of a conventional loan is that the mortgage insurance goes away often when the LTV (loan to value) ratio reaches 78% of the home value. Contact Colorado Lenders today for more information about qualifying.