CONVENTIONAL LOANS

Conventional loans are a good option for homebuyers with higher credit scores and stable employment histories. Interest rates for conventional loans are usually some of the lowest available.

FEATURES AND BENEFITS

• Fixed and ARM loans are available

• A variety of loan terms are available

• Down payments as low as 3%

HOW TO GET STARTED

PRE-QUALIFY

1. After evaluating income, assets and employment, Consumer Trust Mortgage can give you an idea of the mortgage amount for which you may qualify.

2. Pre-qualification can help you shop for affordable properties in the correct price range.

3. The process begins with a meeting to discuss your income, assets, employment and long-term debts.

TOTAL MONTHLY PAYMENTS

Monthly mortgage payments are made up of four components: principal, interest, taxes, and insurance, together known as PITI.

• Principal: the part of the monthly payment that reduces the remaining balance of the mortgage.

• Interest: the fee charged for borrowing money. Determine the amount of principal and interest by using our Mortgage Payment Calculator.

• Taxes and Insurance: Taxes paid on the current property and Homeowners Insurance to protect your home against loss. Taxes and insurance can be included by creating an escrow account.