What Is a Conventional Loan?
A conventional loan is a mortgage not insured by a government agency like the FHA or VA. It’s backed by private lenders and typically conforms to guidelines from Fannie Mae and Freddie Mac.
Conventional loans offer competitive interest rates, flexible terms, and the potential to avoid mortgage insurance with a 20% down payment. They’re ideal for buyers with strong credit or those looking to refinance to save money long-term.
Why Choose a Conventional Loan?
Conventional loans are the most common home financing option in America — and for good reason. They’re flexible, widely available, and ideal for borrowers with strong credit, steady income, and a solid down payment. Russ Fitzpatrick helps clients compare conventional loans to government-backed programs to ensure the smartest long-term fit.
💰 Competitive Rates
With stable interest rates and multiple term options, conventional loans give you predictable monthly payments and long-term financial security. A great choice for buyers who plan to stay in their homes for years to come.
🔒 No Upfront Mortgage Insurance
Unlike FHA loans, conventional loans don’t require upfront mortgage insurance. Once you reach 20% equity, you can eliminate PMI altogether — keeping more of your money where it belongs.
🏠 Flexible Property Options
Conventional loans can be used for primary residences, second homes, or investment properties. Russ helps structure the right program to fit your lifestyle and portfolio goals.
🔁 Streamlined Refinancing
Already have a mortgage? Conventional loans often make refinancing faster and simpler, helping you take advantage of lower rates or access home equity without jumping through extra hoops.
All loans subject to credit and underwriting approval. Rates, terms, and conditions may vary based on borrower qualifications and market factors.
Ready to Take the Next Step?
Buying a home is one of the biggest financial decisions you’ll make — and the right loan makes all the difference. Russ Fitzpatrick and the CMS Mortgage Solutions team are here to simplify every step, explain every number, and help you make confident decisions about your mortgage.
Have questions before applying? You can also reach Russ directly at (828) 482-7659 or russ@cmsmtgsolutions.com.
Russ Fitzpatrick
Mortgage Loan Originator • NMLS #2712875
Licensed in Georgia and North Carolina
CMS Mortgage Solutions, Inc. • NMLS #212405
cmsmortgagesolutions.com
NMLS #212405 | Licensed to Do Business in the State of AL, AZ, CA, CO, DE, DC, FL, GA, ID, IN, LA, ME, MD, MI, MS, NM, NH, NC, OK, SC, PA, TN, TX, VA, and WV
A MORTGAGE BROKER ONLY, NOT A MORTGAGE LENDER OR MORTGAGE CORRESPONDENT LENDER
www.nmlsconsumeraccess.org
Equal Housing Opportunity
This page is maintained by Russ Fitzpatrick for educational and informational purposes.
It is not an official CMS Mortgage Solutions corporate page and does not constitute a loan
commitment or approval. All loans are subject to credit and underwriting approval.
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