Caliber Home Loans is dedicated to assisting more borrowers with accomplishing their home ownership dreams by providing personalized, affordable lending solutions.

    Gina Spearman, Caliber Home Loans area sales manager, recently sat down with Atlanta’s Best New Homes TV to discuss the three main different loan options from Caliber Home Loans: conventional, FHA and VA.

    In this Mortgage Minutes segment, Spearman focuses on conventional loans.

    “Conventional loans are a great loan product for the homebuyer,” said Spearman. “They are available to those that are looking to buy as a primary resident, a second home or even an investment property.

    Some features of conventional loans from Caliber Home Loans:

    conventional loansThe minimum down payment for a conventional loan is generally 5 percent of the purchase price, but there are some loan features that will allow homebuyers to have a down payment as little as 3 percent, according to Spearman.
    Loan borrowers can also apply 100 percent gift for the down payment, meaning there is no requirement that the borrower invest their own money when looking at a primary residence.

    Additionally, the seller can contribute towards closing costs and anything outside of the down payment, up to 3 percent of the purchase price.

    For a conventional loan, the minimum credit score accepted is a 620, but Spearman notes that there are interest rate adjustments for scores less than 720. Also, keep in mind, that most home loans where less than 20 percent is required for a down payment generally involve a level of private mortgage insurance. The amount of insurance needed is dependent on the loan to value owed on the home.

    For complete details about conventional loans, watch the video above or contact Caliber Home Loans at 404-449-4515 or

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