When most people think of getting a mortgage, they’re talking about a conventional loan. As the most common loan type in New Jersey, conventional mortgages offer flexibility, competitive rates, and long-term stability. At Trinity Lending Company, we help buyers navigate the conventional loan process with clarity and confidence.
Conventional loans are not insured by the government. Instead, they’re backed by Fannie Mae and Freddie Mac. This means eligibility is based on your credit history, income, and down payment.
In competitive areas like Bergen County, Essex County, and Morris County, a conventional loan can strengthen your offer compared to government-backed programs. Sellers often see it as a sign of strong financial standing.
Most lenders require 620+, but higher scores mean better rates.
Yes — PMI applies but can be removed once you reach 20% equity.