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GA 97% Conventional Loan

March 27, 2015

From Loan Officer Joy James

From Loan Officer Joy James

Most folks believe that you must have a significant down payment to obtain a conventional loan, but this is actually not the case. Even though FHA loans are popular for first time property buyers with small down payments, there are other conventional financing alternatives with similar terms. This article describes GA 97% conventional loans.

About Conventional Loans

Some Calculations

When qualifying for any type of financing, mortgage companies will evaluate monthly earnings and all known debts. Normally, the debt-to-income ratio (including the estimated monthly payment on the new loan) cannot exceed a certain value. For conventional loans, that ratio is less than FHA mortgages. This makes it harder for certain people to be eligible or could lead to a lower price for which a buyer is approved.

Other Loan Criteria

For individuals with satisfactory debt-to-income ratios and who also meet other applicable requirements, conventional loans provide a simpler procedure for approval overall. Mortgage insurance premiums will also be less and may result in measurable savings. Be aware that not all companies have the same requirements and fees.

More On GA 97% Conventional Loans

Different financing plans offer distinct benefits and drawbacks as well as closing costs and monthly payments. It is crucial to study your options, compare them, and choose one that better fits your needs and finances. It is valuable to speak with a reputable loan professional for up-to-date details. Most offer pre-approvals at no cost to you. For additional details on GA 97% conventional loans, contact Guaranty Mortgage by calling 770-614-7425 or

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