A conventional loan is a type of mortgage that is not backed by the government. Instead, it is issued by private lenders such as banks and credit unions. These loans typically require a higher credit score and down payment than government-backed loans like FHA or VA loans. However, they also offer more flexibility in terms of loan amounts and property types.
One advantage of a conventional loan is that borrowers can avoid paying for mortgage insurance if they make a down payment of at least 20% of the home's purchase price. Additionally, because these loans are not backed by the government, there may be fewer restrictions on the types of properties that can be financed with them. This makes them an attractive option for those looking to finance investment properties or second homes. Overall, conventional loans are a good choice for borrowers who have strong credit scores and financial stability but may not qualify for government-backed programs due to their stricter requirements.
Yuma County is a county in the southwestern corner of the U.S. state of Arizona. As of the 2020 census, its population was 203,881. The county seat is Yuma. Yuma County includes the Yuma, Arizona Metropolitan Statistical Area.
Area: 5,519 mi²
Population: 206,990 (2021)
Address: 711 E 32nd St, Yuma, AZ 85365
Address: 221 S Main St, Yuma, AZ 85364
Address: 2690 S 4th Ave, Yuma, AZ 85364