133 search results for conventional loans
Home Buying Process Page
Buying your first home can be overwhelming. But when you have the right resources professionals by your side, buying a home is a milestone to celebrate rather than a hassle. Follow this guide to get started on the path to homeownership:
Digital Use Practices Page
TowneBank is committed to protecting the privacy of its members. Our members’ security is our priority, and we take every measure to safeguard your information. It is TowneBank’s practice to inform its members of the information we collec...
Seller Concessions: What can a seller contribute to their home sale? Article
What is a seller concession? Buyers can request that the seller contribute to some of their out-of-pocket costs when submitting an offer on a home. If agreed upon, this is referred to as a seller concession. Why would a seller make concessions?...
Fixed-Rate Mortgage Page
A fixed-rate mortgage is a type of home loan for which the interest rate is set when you take out the loan and it will not change during the term of the loan.How are interest rates determined?Interest is the cost of borrowing funds from a lending ins...
DID YOU KNOW - A 20% Down Payment is Not Required to Buy a Home Article
Coming up with enough cash for a down payment is one of the most common struggles among first-time buyers. However, in most cases, you don’t need to put 20% down on a home – especially your first home! So how much do you need to put down?...
Do’s and Don’ts of the Mortgage Process Article
Do’s and Don’ts of the Mortgage ProcessIs purchasing a home on your to-do list? If you’re like the majority of homebuyers in America, you’ll be taking out a mortgage to purchase your next home.Here’s a list of do’s...
What’s Hot and What’s Not When it Comes to Your Home Financing? Article
What’s Hot and What’s Not When it Comes to Your Home Financing? What’s hot? Getting pre-approved for a mortgage from your local lender.What’s not? Waiting until you’ve put an offer in on a home to get pre-approved. A pre-approval will help you d...
Top Quality in Secondary Article
Top Quality in SecondaryWe understand that one mortgage solution doesn’t fit every client. We are proud to offer a wide variety of loan products, competitive interest rates and out-of-the-box underwriting to our clients and partners. Our team ...
Grant Options for Every Buyer Article
Looking to purchase a home but need a little help with your down payment or closing costs? Depending on your income, location, occupation or ownership status, you could qualify for grant money.Virginia Housing (VH)Virginia Housing offers grants, as w...
Don't Let These Homebuying Fears Haunt You Article
Don't Let These Homebuying Fears Haunt YouAre home buying nightmares stopping you from purchasing a home? If so, then we have good news for you. Most first-time homebuyer fears are unfounded and completely avoidable with the guidance of a trusted...
USDA Loan Product
Up to 100% financing availableFor moderate-income familiesFlexible credit guidelinesSeller can pay borrower closing costs
What’s going on in the mortgage industry? Are rates at Zero? Article
What’s going on in the mortgage industry? Are rates at Zero?As many of you are aware, recently the Federal Reserve cut interest rates to near zero in an emergency effort to support the economy during the COVID-19 pandemic. You might be wondering how ...
Adjustable-Rate Mortgage Page
Adjustable-Rate Mortgages (ARMs) have an interest rate that fluctuates throughout the loan's life. The initial rate is typically lower than comparable fixed-rate offerings, which can make them more appealing. However, that interest rate will...
Refinance Loan Product
Lower your interest rate for reduced monthly paymentsPut the equity in your home toward good useRemove costly Private Mortgage InsuranceShorten your loan term for faster payoffFund home renovationsConvert an adjustable-rate-mortgage to a fixed-rate m...
Reverse Mortgage Loan Product
A reverse mortgage will not affect social security or Medicare benefitsReverse mortgage proceeds are not subject to federal income taxes*Reverse mortgage recipients keep ownership of their homeA reverse mortgage may be subject to credit or income qua...
What Makes the VA Loan Such a Valuable Benefit? Article
What Makes the VA Loan Such a Valuable Benefit? The VA Loan is known to be one of the best benefits for current and retired military members and their families. Let’s dive a little deeper into what makes the VA Loan so special. A VA or Veterans...
Preparing for Homeownership Article
Buying a home is a huge milestone, and it’s important to prepare before you dive in headfirst. After all, this is likely the largest investment that you will ever make. The more prepared you are, the more confident you’ll feel in your hom...
Your Ultimate Guide to Mortgage Terms Article
Your Ultimate Guide to Mortgage TermsAre you thinking about buying a home? We understand that when it comes to the mortgage process education is key. We work hard to provide each of our clients the knowledge and education they need to help guide them...
What are Points and Should You Pay Them? Article
What are Points and Should You Pay Them?Mortgage points, also known as points or discount points, are optional fees that you pay to the lender to lower the interest rate on your loan. While you will pay more upfront with points, you will pay les...
Thinking of Buying a Home this Year? Avoid These Common Mistakes Article
Thinking of Buying a Home this Year? Avoid These Common MistakesShopping for homes before getting pre-approval. This is a common mistake when it comes to the homebuying process. Many first-time buyers make the mistake of shopping around and to...