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cturner@themtgsrc.com
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Conventional 97 Loans – Home Financing with Just 3% Down

A Conventional 97 loan is a type of conventional mortgage that allows you to buy a home with just a 3% down payment. It’s an excellent option for first-time homebuyers or anyone looking to save on upfront costs while securing a competitive interest rate.

Why Choose a Conventional 97 Loan?

A Conventional 97 loan can help eligible homebuyers purchase a home with as little as 3% down. Our team can help you understand the loan requirements, available options, and whether this mortgage program may be a good fit for your homeownership goals.

Low Down Payment
You can buy a home with only 3% down, making it easier to get into a home without a large upfront payment.
Competitive Interest Rates
Enjoy lower rates compared to some other low-down-payment options, keeping your monthly payments affordable.
Flexible Eligibility
Easier to qualify for than some government-backed loans (like FHA).
No Upfront Mortgage Insurance
Unlike FHA loans, the Conventional 97 loan doesn’t require upfront mortgage insurance, saving you money.

Who Qualifies for a Conventional 97 Loan?

Low Down Payment
Qualified borrowers may be able to purchase a home with as little as 3% down, reducing the upfront cost of homeownership.
Strong Credit Profile
Conventional 97 loans are generally designed for borrowers with established credit and a reliable financial history.
Primary Residence
The property must typically be your primary residence, making this program ideal for eligible homebuyers purchasing a home to live in.
Eligible Home Types
Financing may be available for qualifying single-family homes, condos, and certain other residential properties that meet program guidelines..

How The Mortgage Source LLC Can Help

At The Mortgage Source LLC, we make applying for a Conventional 97 loan simple and stress-free. Our team will:

  • Help you determine if you qualify for a Conventional 97 loan based on your financial situation.
  • Find the best interest rates and loan options to save you money.
  • Guide you through the application process to ensure everything goes smoothly.
  • Provide expert advice so you can make informed decisions about your home loan.

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Still Have Questions? Let’s Talk Today!

Start the conversation and discover how we can help.

24/7 Support:
(864) 712-4511
Email Our Expert:
cturner@themtgsrc.com
Find Our Location:
Greencille , Spartanburg ,Greer
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