West Ridge Financial
Most buyers · Loan guide
The loan most purchases are measured against—flexible on property type, with mortgage insurance that can come off later.
The essentials
A conventional loan isn’t backed by a government agency, and it’s the starting point for most purchases. Some first-time buyers can put as little as 3% down; others choose 5%, 10%, or 20% to lower the payment. With less than 20% down you’ll usually pay private mortgage insurance (PMI)—but unlike FHA, PMI can be removed once you build enough equity.
Conventional financing also covers many second homes and some investment properties, which matters for resort and vacation purchases. Larger loans above the annual conforming limit move into jumbo territory. Mike will compare a conventional payment side by side with other options so you can see the real difference.
Personal from the start
You don’t need to have it all figured out. Tell Mike what you have in mind, and explore the options together.
Program availability, terms, and eligibility depend on the lender, the property, and your complete application. This overview is general education, not a commitment to lend.
West Ridge Financial · NMLS #283715
Mike or the West Ridge team will reach out soon. Need an answer now? Call (801) 971-3956.
