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Conventional Mortgage
Conventional mortgage financing. New home loan. Rocket mortgage Royal Oak, MI.
We Rocket your conventional mortgage!

GENERAL INQUIRY | CONVENTIONAL MORTGAGE

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Conventional Mortgage | Highlights

Calculator worksheet.  

Documentation requirements.  

Free consultation. 

Minimal down.

FICO score.

No App Fee! 

Mortgage Calculator Worksheet


Enter your email address and receive a free summary worksheet!

$

5%

1%

5%

0%

$
$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

Monthly PMI $0

Worksheet Summary | Highlights

Down payment.
Find out how much of a down payment is right for you.

Closing costs.
Review the out of pocket expense for your transaction.

Custom tailored for you.
By far, our summary is uniquely distinguishable.

Conventional Mortgage | Consultation
Schedule your free mortgage consultation today!

AFFORDABILITY

We figure out your maximum buying power!

CALCULATION

We crunch all of the numbers for you!

SIMPLICITY

Our mortgage worksheet summary is easy to understand!


Conventional Mortgage Required Documentation

Conventional mortgage financing. Required documentation to apply.1.  W2’s (most recent two years)
2.  Two months of bank statements (all pages).
3.  Copy of your current driver’s license

On paper the process is extremely simple.  Essentially, all that a borrower needs to begin the underwriting process are the above docs.  All in all, these are the items to start your mortgage journey!

Minimal Down Payment – 3% Down

Conventional mortgage down payment. Minimal down payment mortgage of 3%.In every case, conventional mortgage financing requires a minimum down payment of 3% to 5%.  Actually, many borrowers buy their first home with the minimum down payment.  Subsequently, putting down 20% down is not as critical as one may believe.  In fact, in many cases it is advantageous to put down less rather than more.  Often times it is better to use the banks money rather than your own!  Regardless, figuring out the down payment (plus closing costs), is extremely important.  As a highly rated mortgage broker, Fortress knows how to seamlessly provide the crucial answers.  We give you this information upfront, and without any obligation by way of our mortgage worksheet.  Hands down, the worksheet is an example of what separates us from other mortgage brokers.  Fill out the general inquiry form now, and let’s get going!

Conventional Mortgage FICO Score

Conventional mortgage FICO scoreRealistically, Fannie coupled with Freddie accept FICO scores down to 640.  Although this may be true, it is important to realize the FICO score is strictly defined.  In other words, the FICO score is not the same as a free credit pull.  In fact, it is typically LOWER and in some cases considerably.

Conventional Mortgage – No App Fee!

Conventional financing requirements; mortgage moneySo, you have your eye on a new home!  In all likelihood you’re ready to apply, but you’re not crazy about the Rocket app fee.  To put it another way, your personal funds are crucial to you.  And, not a penny should be needlessly wasted.  You worked very hard to save, and now you want to use your money to the fullest.  After all, buying a new home is not cheap!  Accordingly, Fortress Home Mortgage understands, and therefore will not charge you to apply.  Without a doubt, we value your money as much as you do.  

Where the Money Comes From

Conventional mortgage. Fannie Mae and Freddie Mac. Where the mortgage money comes from.First, a quick lesson on who funds your conventional mortgage.  All in all, conventional mortgage financing comes from Fannie Mae, and Freddie Mac.  Both companies are, indeed, government-sponsored enterprises, effectively functioning under federal oversight.  Furthermore, these entities are commonly referred to as GSE’s.  The main goal of the GSE is to flow money into the economy.  Essentially, the conventional mortgage serves as a vital conduit for this purpose.  Consequently, banks provide loans to the public, facilitating financial transactions and economic growth.  And, in order to do so, the GSE must have a “source.”  The source is usually a big name brand, such as Rocket, United Wholesale, or Bank of America.  All in all, the federal government is involved regardless of whatever lending institution funds the loan.  So, say hello to Uncle Sam the mortgage man!

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