A Complete Guide to Conventional Mortgages in Monroe County, NY
Buying a home is a significant milestone, and for many homebuyers in Monroe County, NY, securing the right mortgage is crucial. A conventional mortgage monroe county ny is one of the most popular home loan options , offering flexibility and competitive rates for those who qualify. But what exactly is a conventional mortgage, and how do you know if it's the right fit for you? In this guide, we'll explore what makes a conventional mortgage appealing, how it works, and why it’s a great option for homebuyers in Monroe County, NY. What is a Conventional Mortgage? A conventional mortgage is a home loan that is not backed by any government agency such as the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), or the U.S. Department of Agriculture (USDA). Instead, it is issued by private lenders and typically follows guidelines set by Fannie Mae and Freddie Mac, two government-sponsored enterprises that purchase mortgages. Conventional mortgages are po...