Allied has offices from coast to coast to serve you. Even if we do not have an office in your vicinity our licensing and technology allow us to serve you pretty much anywhere you are.

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Loan Programs

Conventional Loans

Conventional Loans are basically any mortgage which is not guaranteed or insured by the US Government. These are traditional home loans made by lenders and held by lenders and other financial institutions. Qualification requirements for conventional loans and the types of borrowing scenarios they support may provide more flexibility to borrowers which may mean more borrowing options or terms better suited to the situation. Typically, though Conventional Loans require a larger down payment for home purchases.

Some of the key advantages of the Conventional Loan are:

Lower market interest rates may be available depending on the specific program
Seller contributions are allowed
More flexible underwriting (more creative financing options)
May finance vacation/second homes
May finance investment properties
Lenders may be willing to reduce or eliminate certain loan fees
Appraisals may not be as strict as with the FHA or VA required appraisals
Private Mortgage Insurance (PMI) may be available which allows a lower down payment

The loan amount for “Conforming Loans”, which conform to the guidelines set by Fannie Mae and Freddie Mac, is $417,000 for Single Family residences (there are exception for Alaska and Hawaii), although much more can be borrowed with Conventional Loans. Conforming Loans typically give the borrower the best rates and terms. Refer to the Jumbo Loans page for more information on high balance conventional loans.