Phone: (240) 670-5090       •       Fax : (443) 725-0531

Serving all of Maryland, Washington D.C. & Virginia
Email :       •       NMLS ID: 143670

12501 Prosperity Drive Suite 310, Silver Spring, MD 20904

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.