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traditional mortgage options
Your Home, Your Way
Owning a home should feel steady, not complicated. A traditional mortgage gives you flexibility, predictability, and the confidence to plan your future, whether you’re buying your first home, building new, or investing in land.
What Is a Traditional Mortgage?
A traditional mortgage, also called a conventional loan, is the most common type of home financing. It’s offered by private lenders and not insured by a government agency.
This flexibility lets you choose from fixed or adjustable rates, shorter or longer terms, and even programs with small down payments. It’s home financing built around your goals.
This flexibility lets you choose from fixed or adjustable rates, shorter or longer terms, and even programs with small down payments. It’s home financing built around your goals.
how it works
Step 1
Define Your Goal
Buying, building, or refinancing, we’ll help you choose the right loan.
Step 2
Apply Online
Start with a quick and secure application.
Step 3
Get Matched With a Loan Officer
A specialist will review your goals and guide you through your options.
Step 4
Review & Lock Your Rate
We’ll explain each term clearly so you can decide confidently.
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Who Qualifies?
You may qualify if you:
- Have a credit score of 620 or higher
- Can make a down payment of at least 3%
- Meet standard income and debt-to-income guidelines
- Plan to buy, build, or refinance a qualifying property
How Eligibility Is Confirmed
- Through a review of your credit, income, and assets
- Lenders evaluate your credit score (typically 620+), verify stable income and employment, and ensure your debt-to-income ratio fits conventional limits.
- A property appraisal confirms the home’s value supports your loan amount.
GET A SAME DAY APPROVAL
Waiting days to hear back isn’t our style. With New Era, you’ll know exactly what you can afford in under half an hour.
Get Approved
Types of Traditional Loans We Offer
Pick your path and we’ll guide you every step of the way
See If You Qualify
Fixed-Rate Mortgage
Stable payments that never change.
Adjustable-Rate Mortgage
Lower starting rate that adjusts later.
One-Time Close Construction Loan
Build your home with one simple closing.
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Home Ready & Home Possible Loans
Low down payment programs for qualified buyers.
Construction-to-Permanent Loan
Finance building and long-term mortgage in one.
Lot or Land Loan
Secure your land while planning your future build.
Why Choose a Traditional Mortgage
A straightforward path to homeownership with stable terms and lasting value.
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- Flexible Options: Fixed or adjustable rates, short or long terms.
- No Mortgage Insurance with 20% Down: Save on monthly costs.
- Competitive Interest Rates: Lower rates than many conventional options.
- Lower Long-Term Costs: Competitive rates that reward good credit.
- Fewer Restrictions: Use for primary, vacation, or investment homes.
- Build Equity Faster: Consistent payments that grow long-term value.
Homeowner Stories
Hear How We Are Changing Lives from Our Clients Themselves
“We wanted stable payments we could plan around. The fixed-rate mortgage gave us peace of mind.”
Lauren & Ethan P.
“With just 3% down, our HomeReady loan made buying our first condo possible.”
Janice T.
“We used a one-time close construction loan to build our home. It was simple and stress-free.”
Mark & Elise D.
Faqs
What’s the difference between a fixed and adjustable rate?
A fixed-rate loan keeps the same interest rate for the full term. An adjustable-rate loan starts lower and adjusts over time.
Can I get a loan with less than 20% down?
Yes. Programs like HomeReady and Home Possible allow down payments as low as 3%.
Are traditional loans only for first-time buyers?
No. You can use them for primary, vacation, or investment properties.
Can I build a home with a traditional loan?
Yes. Construction-to-permanent and one-time close loans make it easy to finance a new build.
Ready to Find Your New Home?
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