Make an Appointment

  1. Home
    2. Mortgage Loans Conventional Loan

Conventional Mortgage Loan

Flexibility For Your Budget

A Conventional Mortgage is a great choice for those with good credit ratings and enough savings available for a down payment and closing costs.

Young couple relaxing on floor enjoying their new home.

What Is A Conventional Mortgage?​

A Conventional Mortgage loan is issued by a private lender versus backed by the U.S. government. It requires good credit to qualify, and also allows more flexibility. 

Conventional Mortgage Loans Offer:

  • Financing up to 95% of the price (up to 97% of the price in conjunction with our Home Possible Program)

  • Quick processing and closing

  • Flexible rates and terms

  • Investment properties (secondary market 1-4 units)

  • Second homes

  • Seller can contribute up to 3% (up to 6% with 10% down, up to 9% with 25% or more down)

Mortgage Checklist

As you prepare to speak with one of our Mortgage Specialists, we recommend downloading our handy Mortgage checklist. This guide will help you gather and organize the paperwork you’ll need to start the mortgage process.

Download Our Checklist

Get Started

Every situation and home is unique. We look forward to working with you on your specific need for affordable home ownership.

Apply Now

 

Mortgages can be complex. We make them easy. If you’re not ready to apply for a Mortgage loan just yet, you might want to have a call with one of our Mortgage Team representatives first. We’ll walk through the process, ask you some clarifying questions, and answer your questions.

Request a Call Back

Interested In Learning More?

To see what other types of mortgages we have available, along with our specialized mortgage programs, visit our Mortgage overview page.

Let’s Get Started

We look forward to helping you.

Apply Now

What's New

Saving: Starting Small
First Source Sponsors Utica Police Therapy Dog: Introducing “Penny”
First Source Announces John Calabrese As Next President/CEO
Membership and credit requirements apply. Rates and terms determined by overall credit history and subject to change. Equal Housing Lender.

Mortgage products are offered by Homeowners Advantage (HOA). Mortgages in New York State only. Home Loan interest may be tax deductible. Consult your tax professional about deductibility in your situation. HOA is a Licensed Mortgage Banker-NYS Department of Financial Services. HOA NMLS identifier: 309847. Principal Address: 4 Winners Circle, Albany, NY 12205.