Conventional Loans

Connecticut Conventional Loan Programs

At Residential Home Funding Corp. we offer both conforming and non-conforming loans. Below you can see some clear differences between the two types of home loans:

Conforming Loans

  • 1-4 Family Properties and Fannie Mae approved Condominiums
  • Loan amounts up to $417,000 ($625,000 in higher market areas)
  • Rates are determined by an evaluation of risk, ensuring the best rate available
  • Flexible mortgage insurance options are available, including a non-monthly payment option
  • You can put as little as 3% down on a purchase

Non-conforming Loans

  • Loan product that doesn’t conform to Fannie or Freddie guidelines
  • Higher loan balances
  • Limited to no income verification loans
  • Non Fannie Mae approved condominiums and Co-ops
  • Specialty loans such as ARMs and no PMI options
  • 100% financing options available

Not sure which type of loan you’d like to consider? Speak to a loan officer to learn more about your options. Give Mark a call or fill out our free consultation form now and we’ll contact you!