The most popular mortgage loan on the market is a conventional home loan, which offer the flexibility you need to purchase a new property without breaking your budget.
Citizens Bank of Ada was founded right here in Ada, Oklahoma. Our team of experienced mortgage lenders loves helping our neighbors purchase their dream homes. Contact us today to discover the best conventional home loan options to fit your home buying needs.
What Is a Conventional Mortgage Loan?
A conventional mortgage loans is a home buyer’s loan that is not offered or secured by a government entity.
Conventional loans are perfect for those looking for:
How Does It Work?
A conventional mortgage loan can be processed entirely by a local mortgage lender such as Citizens Bank of Ada.
If you don’t have a large down payment, some conventional loans are available for as low as 3% down for first-time buyers and 5% for those who have already purchased property. Keep in mind that you’ll pay PMI if you put less than 20% down.
Am I Qualified for a Conventional Mortgage Loan?
The first step to qualifying for a conventional mortgage is to speak with a loan specialist. Our mortgage lenders near you will go over your options and help you through the application process.
Generally, to qualify for a conventional mortgage loan you must have:
How Long is the Process?
Applying for a Conventional Home Loans in Ada typically offers the fastest loan processing time in most cases. While most pre-approvals are complete in one to three business days, same-day pre-approvals are not uncommon. Closing terms can range from 30 days to 90 days depending on your time needs.
Why Citizens Bank?
Citizens Bank of Ada offers personalized services you won’t find at big corporate banks and mortgage lenders who are near you. We have been part of the local community for over 50 years. We are a faith-based, service-minded, and relationship-focused institution, which means we’ll take care of you every step of the way to help you purchase the home of your dreams.
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