Back to Types of Financing

525 Randall Ave. Cheyenne, WY  82009 307-632-0001

Conventional financing is the most common method. The "conforming" loans were structured to accommodate those borrowers who can make at least a 20% down payment. Conforming conventional financing has traditionally used a 36% ratio of total debt to gross income as their guideline. However we are seeing that rule of thumb to be less and less important as investors are becoming more sensitive to the borrower's willingness to repay the loan (credit history), ability to repay the loan (income), and willingness to participate in the cash investment (down payment). As a result, we've seen loans approved and funded with a much higher debt ratio!

We can also finance those who have as little as 5% down. It just means that if you put less than 20% down, you'll have to buy mortgage insurance to protect the investor from possible foreclosure expenses.

For those borrowers who have unusual income, need to finance 100% of the purchase, have less than stellar credit ratings, or have other special needs, we can offer "non-conforming" loans. Investors charge higher interest than the conforming loans, but are still well within affordable parameters.