Conventional Mortgages
Welcome to Bennett Capital Partners Mortgage Brokers, your go-to destination for flexible and competitive Conventional mortgages. As a premier mortgage brokerage, we're dedicated to helping our clients secure the right conventional mortgage that suits their unique financial needs, ensuring a smooth path towards homeownership.
Our team of knowledgeable loan officers has an extensive background in the conventional mortgage industry and is licensed to originate Conventional mortgages throughout Florida. We pride ourselves on our expertise, reliability, and trustworthiness, making us the top choice for clients seeking conventional mortgages.
Whether you're a first-time homebuyer, a seasoned investor, or looking to refinance, our loan programs offer a variety of Conventional mortgage options tailored to fit your needs. Our commitment to exceptional customer service and cutting-edge technology ensures a seamless and stress-free application process.
Explore our wide range of Conventional mortgage options, including loans for various property types such as Condominiums, Warrantable Condo Mortgages, and 2-4 Unit Properties. In addition to Conventional loans, we also offer diverse mortgage programs like FHA, Jumbo, Non-QM, VA, and USDA mortgages to cater to a wide range of financial situations.
At Bennett Capital Partners Mortgage Brokers, our mission is to help you navigate the requirements for a conventional loan with ease and confidence. Contact us today to discuss your financing needs with our team of experts and embark on the journey towards securing your dream home.
Our Expertise in Conventional Mortgages
At Bennett Capital Partners, we specialize in providing our clients with the best options when it comes to conventional mortgages. Our team of experts has years of experience in the mortgage industry and we have developed a reputation for being the go-to mortgage brokerage company in Miami. Here are some of the reasons why we are the experts in conventional mortgages:
Extensive Network of Lenders
As brokers, we work with hundreds of wholesale lenders and banks to provide our clients with the widest range of options when it comes to conventional mortgages. This allows us to find the best interest rates and terms to fit your unique financial situation. Our broker work with you through underwriting conditions such as letters of explanation, income, asset, credit, title, insurance, and other transaction-related conditions.
Personalized Service
At Bennett Capital Partners, we believe in providing our clients with personalized service that meets their specific needs. Our team of experts will work with you one-on-one to understand your financial situation and help you find the best conventional mortgage program for you.
Fast Closing Times
We understand that buying a home is a time-sensitive process, which is why we strive to close your conventional mortgage as quickly as possible. Our streamlined application process and efficient team of experts ensure that you can move into your new home in a timely manner.
Competitive Rates
Our extensive network of lenders and banks allows us to find the most competitive interest rates for your conventional mortgage. We work hard to ensure that you get the best deal possible when it comes to your mortgage.
Industry Knowledge
Our team of experts has extensive knowledge of the mortgage industry and can guide you through the complex process of obtaining a conventional mortgage. We can help you with all conventional, government, Non-QM (10 Year Interest Only, Bank Statement, P&L Only, Non Warrantable Condos, Etc.) Private Money, Hard Money, and more. We stay up-to-date on the latest industry trends and regulations to ensure that our clients receive the best mortgage broker service.
Conventional Mortgage Programs
HomeStyle
Fannie Mae HomeStyle Renovation Mortgages are a unique type of conventional mortgage designed to help borrowers finance both the purchase of a property and the cost of necessary renovations. These loans are backed by Fannie Mae and follow the conforming loan limits set by the agency. HomeStyle Renovation Mortgages offer a convenient solution for homebuyers looking to transform a fixer-upper or make significant improvements to their existing home.
HomeReady
This is a conventional mortgage program with low down payment options and flexible income requirements for low- to moderate-income borrowers. It also offers reduced mortgage insurance requirements. HomeReady mortgages are designed to make homeownership more accessible to those who may not qualify for traditional mortgages. HomeReady Borrowers can take advantage of flexible credit score requirements and a low down payment option of just 3%
Home Possible
This is a conventional mortgage program with low down payment options with no income restrictions and flexible income requirements for for first time homebuyers. It offers reduced mortgage insurance requirements and allows for down payment assistance from family members. Home Possible mortgages are designed to help first-time homebuyers and those with lower incomes purchase a home. Borrowers can benefit from a low down payment option of just 3%.
Conventional 97
This is a conventional mortgage program that allows for a down payment as low as 3%. It also offers reduced mortgage insurance requirements. Conventional 97 mortgages are a good option for those who don't have a large down payment but still want to take advantage of the benefits of a conventional mortgage. This type of mortgage can be ideal for first-time homebuyers in florida or those who want to keep their savings for other purposes.
Fixed-rate mortgages
We are able to offer conventional mortgages with a fixed interest rate for the entire loan term, typically ranging from 10 to 30 years. Fixed rates offer stability and predictability in monthly mortgage payments, making it a popular option for homeowners who plan to stay in their home for an extended period. The interest rate remains the same throughout the life of the loan, which means that borrowers can budget accordingly and avoid fluctuations in their monthly mortgage payments.
Adjustable-rate (ARM's)
We offer conventional mortgages with an interest rate that changes periodically based on market conditions. It typically offers lower initial payments and can be a good option for those who plan to sell or refinance in a few years. ARMs come with a cap on the interest rate to protect the borrower from large increases in the future. ARM mortgages can be ideal for borrowers who want to take advantage of lower interest rates in the short term. ARMS can offer lower payments than fixed rates in some cases.
Interest-only mortgages
Interest-only mortgages are a type of conventional mortgage in which the borrower only pays the interest on the loan for a certain period of time. This means that the monthly mortgage payment is lower than it would be with a traditional mortgage. Interest-only mortgages can be a good option for those who plan to sell or refinance in a few years or for those who have fluctuating income
A second home mortgage is a type of conventional mortgage that allows borrowers to purchase a second home or vacation property. Unlike investment property mortgages, second home mortgages are intended for personal use and not for generating rental income. They offer competitive interest rates and flexible repayment terms, making it easier for borrowers to finance their dream vacation home.
Investment property
An investment property mortgage is a type of conventional mortgage that allows borrowers to purchase rental properties or other investment properties. This type of mortgage is designed for those who want to invest in real estate and generate rental income. Investment property mortgages offer competitive interest rates and flexible repayment terms, making it easier for borrowers to finance their investment property
Purchase
A purchase loan is a type of conventional mortgage that helps borrowers finance the purchase of a new home or property. Whether you’re a first-time homebuyer or looking to upgrade, purchase loans offer competitive interest rates and flexible repayment terms to suit your financial needs. Designed to make the homebuying process smoother, these loans provide the necessary funds to purchase your primary residence, second home, or investment property.
Refinance
A conventional refinance mortgage allows you to replace your current mortgage with a new loan that has more favorable terms. You can choose to refinance to lower your interest rate, shorten your loan term, or cash out some equity in your home. Bennett Capital Partners Mortgage offers a range of conventional refinance programs to fit your unique financial goals and circumstances. Our team of experienced professionals will guide you through the refinance process, helping you find the best option for your needs.
Construction & Renovation
Renovation and construction mortgages are designed for those looking to finance home improvements or the construction of a new home. With a conventional renovation or construction mortgage, you can receive financing based on the projected value of the property once the renovations or construction are complete. This type of mortgage is a great option for those who want to personalize their home to their exact specifications.
Understanding Conventional Mortgages
What is a conventional mortgage?
A conventional mortgage is a type of home loan that is not guaranteed or insured by the federal government. Conventional mortgages are typically fixed-rate mortgages. They offer terms of 15 or 30 years. However, some lenders offer adjustable-rate mortgages (ARMs).
What is an example of a conventional mortgage?
An example of a conventional mortgage is a 30-year fixed-rate loan. This means the interest rate stays the same for the duration of the loan, and each payment goes towards both the interest and principal.
What's the difference between FHA and conventional mortgages?
FHA loans are backed by the Federal Housing Administration, offering protection to the lender if the borrower defaults. This makes FHA loans more accessible for borrowers with lower credit scores or smaller down payments. In contrast, conventional mortgages are not government-insured, typically requiring higher credit scores and larger down payments, but they may offer more flexibility and better terms for well-qualified borrowers.
Is conventional better than FHA?
It depends on your situation. Conventional loans can be better for those with a high credit score who can put down at least 20%. FHA loans can be better for those with lower credit scores or those who can't afford a large down payment.
What are the requirements for a conventional mortgage?
Conventional mortgage requirements typically include a credit score of at least 620, a down payment of at least 3%, a stable income, and a reasonable debt-to-income ratio, plus many other factors. Give us a call to find out if you qualify
What Our Clients Say
Alex S.
Philip was highly recommended to me and he did not disappoint. He was incredibly helpful and honest throughout the entire process, getting us the best program that matched our needs. We really didn't think we had a chance and luckily Philip …