You can pick any product you want 30, 25, 20 and 15 year fix under conventional loan. Sometime your scenario do not support particular product ask your lender why your loan scenario is not getting 30 year fix they will explain you.
@Breean Reyes I could be wrong but it sounds like to me you are being offered portfolio products or commercial products. Not Conventional/Conforming products.
@Breean Reyes Generally speaking, here is the definition:
A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government and conforms to the loan limits set forth by Freddie Mac and Fannie Mae. You can get a conventional loan at a fixed or adjustable rate.
What type of property is this? Are you trying to hold title in LLC?
@Breean Reyes You cannot borrow in an LLC with conventional loans. You could get a conventional loan with 30 year fixed rate on an investment property with 1-4 units, but it would have to be in your name, not an LLC.
If the building is mixed use as you described you won't be able to finance with a conventional loan. There are limited exceptions with mixed use owner occupied properties that are still primarily residential in nature, but a non owner occupied commercial building with 2 offices isn't something that would be permitted with a conventional loan.
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