Office : (301) 562-9540       •       Cell : (301) 257-8080
12501 Prosperity Drive, Suite 310, Silver Spring, MD 20904
Email :       •       Fax: (443) 725-0531
Team Line: (240) 670-5090       •       NMLS ID: 143670

Conventional Loans

Conventional mortgages are insured by private companies.  Typically, these loans must meet the guidelines set forth by either Fannie Mae or Freddie Mac.  There are a number of conventional loan types offered by First Home Mortgage with down payment options starting as low as 3% down.

Some of the popular options include:

Fixed Rate

A fixed-rate mortgage has an interest rate that stays the same for the entire life of your loan.  This offers a predictable monthly payment for a term of 10 – 30 years.

Program Highlights:

  • Interest rate security
  • Monthly payment stability
  • Best for buyers planning to stay in their homes for a long time

Adjustable Rate

Adjustable rate mortgages (ARMs) may allow you to lock in a low, introductory interest rate that could increase over time.  A hybrid ARM offers a fixed period (typically 3-10 years) followed by a yearly adjustment to the interest rate.  Hybrid ARMs are often represented by fractions, such as 5/1 – meaning the first rate reset takes place after five years and continues to reset each year for the life of the loan.

Program Highlights:

  • Low starting interest rate
  • Lower monthly payments during the initial term
  • Best for buyers planning to keep their loan for a shorter period


Jumbo loans typically have higher loan amounts not allowed for standard conforming programs (set by Fannie Mae and Freddie Mac).  This allows borrowers to a purchase a higher priced home with an affordable down payment.

Program Highlights:

  • Fixed and ARM options
  • Loans up to $3 Million
  • Best for borrowers who are in the market for higher priced homes
  • Require higher credit scores
  • Require additional cash/investment reserves


For questions or to set up a consultation, feel free to reach us at or Pre-Qualify here.