• Stephan Akin

    Stephan Akin

    President
    NMLS# 231112

  • What's Your Property Worth?

    Find Out Now!

    What is a Conventional Mortgage

    A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate. The maximum limit for a conforming loan depends on the county and state you live in.
    Dallas conventional mortgage

    Types of Conventional Mortgages

    Conventional loans can be either Fixed or an adjustable rate. Fixed-rate mortgages have a set interest rate for the entire length of the mortgage term which can be between 10 and 30 years. An adjustable-rate mortgage (ARM) has a term of 30 years with a low introductory rate for a fixed period followed by periodic adjustments according to a specific benchmark, typically a specific LIBOR or a T-Bill index.

    Questions? Contact Stephan Akin Today!
    X

    Get in Touch

    Contact Stephan Akin

    Stephan Akin

    PO Box 601356
    Dallas, Texas 75360
    (214) 987-9999
    NMLS# 231112

    Send an Email