Conventional Mortgage Loan

A Conventional Home Mortgage Loan is a loan that is not insured by FHA (Federal Housing Administration), or guaranteed by the VA (Department of Veterans Affairs).

Borrowers must have a minimum credit score of a 620 in order to purchase a home through the Conventional Loan process. There are many different terms and products available when it comes to Conventional home loans, and for a lot of people it can be quite overwhelming. This is why I take the time to answer all of your questions from the beginning so that you can feel comfortable throughout the process.

Types of Conventional Loans:

Conforming
A loan that meets and conforms to the guidelines set by both Fannie Mae & Freddie Mac. Additional guidelines include: size of down payment, debt-to-income ratio, and credit history.

Non-Conforming
A loan that exceeds the lending limits set by both Fannie Mae & Freddie Mac, typically referred to as “Jumbo Loans”. These could come with higher interest rates, additional upfront costs and even insurance requirements.

Types of Mortgages:

Fixed Rate Mortages
Conventional Loans are typically “fixed-rate” loans that have terms set to 10-30 years in which it has a set Interest Rate for the life of the loan. Payments will not change unless your taxes or Homeowners Insurance fluctuates up or down. A fixed-rate mortgage loan could be the best option for a borrower who would prefer the comfort of a stable (principal and interest) payment for a fixed period of time.

Adjustable Rate Mortgages
These are loans with a variable interest rate that change based on a “mortgage index” such as the Libor, COFI, or MTA. Adjustable Rate Mortgages (ARM) are a little more complex than Conventional in determining which is best suited for your needs.

Down Payment Options for Conventional Mortgage Loans

During our initial consultation, we will discuss multiple options available to you when it comes to making a down payment on a property you are looking to purchase.

Down payment options: 5% – 19.99%
- Borrower paid up-front mortgage insurance (One time payment)
- Lender paid up-front mortgage insurance (One time payment)

*Please note that the interest rate is typically higher for a loan with lender paid mortgage insurance than a comparable loan with borrower paid mortgage insurance.

Monthly mortgage insurance
Option to put 20% or more down and not have any mortgage insurance
Three active trade lines of 12 months or more. (May also provide alternative trade line for 12 months. ex. cell phone bill, cable bill, electric bill in your name)

Home Buying Process for Conventional Mortgage Loans

When it comes to buying a home, the process can be very. If you have questions about anything at any time, please do not hesitate to reach out and contact me.

Step 1

To start the process, you will need to provide me with the following information:

Name
Current address
- Rent or own?
- How many years you have lived at the property?
- Will need at least two years of history
If you own your property
- Purchase price
- Year purchased
- How much you paid
- How much you owe
Contact phone number
Date of birth
Social security number
Name of the company you work for
Title
Years of experience (Need at least two years of history)
How you are paid? (Hourly, salary, bonus, commission)
Financial Reserves
- Checking Account
- Savings Account
- Money Market Account
- Mutual Funds
- IRA
- 401k
Do you own any other property? If so, please provide the following:
- Primary residence
- Second home
- Investment property

Step 2

Next, I would need your permission to pull and review your credit report. We will go over your credit report in detail before proceeding to the next step.

Also, during this call I will explore the different scenarios regarding down payment, monthly payments, and the term of the loan. There are also closing costs, prepaid items, and other inspections that we will discuss as well. I will make sure to explain everything thoroughly so you can understand the full extent of the process and are comfortable moving forward.

Step 3

Once I complete filling out the necessary paperwork, I will send a pre-qualification letter to you and/or your realtor to make an offer on the home you are looking to purchase.

    
 
 
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 May 6, 2026
 
 
  I had the pleasure of working with Ethan for a cash-out refinance on my property, and I couldn’t be more grateful for his expertise and guidance. From start to finish, Ethan was incredibly knowledgeable and took the time to educate me on aspects of the process I didn’t even know existed. His thorough understanding of the industry was invaluable in helping me make well-informed decisions, and I felt confident every step of the way.

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 March 31, 2026
 
 
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 November 28, 2025
 
 
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 November 6, 2025
 
 
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   Bill Mann 
 October 24, 2025
 
 
  If you're here looking for a review on Ethan and you're not sure if these 5 star reviews are legit, I share your same cynicism. Maybe the bad reviews are filtered out, or maybe Ethan provides some incentive to leave only a 5 star review. I actually didn't come here prior to working with Ethan, I blindly accepted the recommendation from a realtor. Ethan was so thorough and organized that he made me skeptical! His communication and follow-ups were so timely, that I wrongly presumed his quick replies meant "problems or disappointment". Ethan has shattered the mortgage broker experience. What has typically felt like a "cost of doing business", Ethan has made feel less transactional and more personal. I hope his increasing popularity doesn't make him unavailable to me in the future, but he deserves the praise and success that comes along with treating every client like his family. It was a "treat" to work with Ethan. If you've worked with Ethan, or decide to work with him after all of these fabulous reviews, you'll understand why I put "treat" in quotes! Good luck on your home buying experience!
  
 
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 October 17, 2025
 
 
  
  
 
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 October 14, 2025
 
 
  I worked with Ethan Baumholtz as my mortgage lender and advisor, and I couldn’t have asked for a better experience. We worked together for about a year, and throughout the entire process, Ethan was patient, professional, and always available to answer my many questions.

Buying a home is so stressful, but Ethan made me feel comfortable and confident every step of the way. He explained everything clearly and made sure I understood all my options. Thanks to his help, I was finally able to purchase my home — and I’m very grateful for his guidance and support.

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 October 14, 2025
 
 
  Ethan did a Great job assisting me with my refinance. He was trustworthy and knowledgeable the entire time even walking me through some of the fine details that involved people in other aspects of the loan besides the mortgage. Thank you for a great experience and helping me get to the next chapter of my life.
  
 
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   Steven Tomosi 
 September 7, 2025
 
 
  We just closed on a shore property with the help of Ethan.  He is honest and goes above and beyond.  We were two steps ahead throughout the entire process and it went as smooth as possible.  Thank you Ethan, we are looking forward to working with you again.
  
 
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 August 27, 2025
 
 
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Required Documents for Purchasing a Home

Please make copies of the following items:

W-2s for the last two years
One month most recent pay stubs
Two months most recent bank statements (All pages included)
Color copy of driver’s license
Copy of social security card, or valid passport
Most recent statements for other reserves

Please make copies of the following if you own any property:

Current mortgage statement
Current tax bill
Current homeowner’s policy (Declarations pages)
Flood insurance policy (If applicable)
Self-Employed and/or Ownership of Investment Properties: Full Tax Returns for 2 years

Inspections

Home Inspection
Termite Certification
Survey (If applicable)
Appraisal

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