Conventional
Conventional mortgages for Wayne County homebuyers
Conventional loans (Fannie Mae / Freddie Mac) are the default for many Downriver purchases and refinances: as little as 3% down for some eligible first-time buyers, PMI that may drop off with equity, and flexibility on some property types. Brad can price conventional against FHA so you see the actual monthly difference.
Who this may fit
Borrowers with stable income, usable credit, and a down payment from 3% to 20% or more, subject to program requirements.
Why borrowers use it
- Low-down conventional options for eligible first-time buyers
- PMI cancellation as you build equity, subject to servicer rules
- Primary, second home, and some investment-property paths
- Often a strong fit for Woodhaven, Brownstown, Canton, and Dearborn price points
Things to watch
Conventional overlays on condos, second homes, and investment property are tighter than the brochure. Brad will check the property type before you spend inspection money.
Documents commonly needed
- Government ID
- Income documents
- Asset statements
- HOA questionnaire if condo
Why work with Brad on Conventional
Conventional is the default until a condo, second home, or credit box says otherwise. Brad checks the property type first and prices PMI-drop vs. FHA so you are not guessing which logo is cheaper in Allen Park or Livonia.
Next step
Call or text (248) 408-3855 with the property and your income type. Brad can help you review whether conventional loans may fit — subject to program requirements — or which related option to compare. You can also start a secure application or read how pre-approval works.