Conventional Loans

We offer several Conforming Products to help meet the needs of your clients, from first-time homebuyers to the season investor, 3% down payment to jumbo financing look no further than Mountain West Financial! Below you will find a high level overview of the vast array of products offered.

Conforming Product

  • Program Overview
  • Minimum 620 FICO
  • Manufactured Homes OK
  • Lender Paid MI up to 95% LTV
  • Investors allowed up to 10 financed properties

Combo & Stand Alone 2nds

Offering both combo and stand alone 2nd options.

Conforming High Balance and Super Conforming

A Conforming High Balance loan offers program flexibility and attractive pricing to the homebuyer for amounts above the conforming loan limit.

  • Program Overview
  • Minimum 620 FICO
  • As little as 5% down
  • Financing available for primary, second homes, and investment properties

Freddie Mac Home Possible

Home Possible mortgages offer low down payments for low-to-moderate-income homebuyers or buyers in high-cost or underserved communities.

Mountain West Financial is proud to be named a 2018 RISE Award Winner by Freddie Mac for the most growth in the Home Possible product.

Home Possible Advantage

  • As little as 3% down payment
  • Maximum LTV of 97% and CLTV of 105%
  • Flexible Sources of Down Payment
  • Down payment can come from a variety of sources including family or down payment assistance programs
  • Stable Mortgages
    • fixed-rate mortgages with a term up to 30 years
  • Income Flexibility
  • Primary Residence Only

Home Possible

  • As little as 5% down payment
  • Maximum LTV/TLTV 95%
  • Flexible Sources of Down Payment
  • Down payment can come from a variety of sources including family or down payment assistance programs
  • Refinance Options
  • Income Flexibility
  • No income limits in underserved areas

Fannie Mae HomeReady

Designed for creditworthy, low-to-moderate income borrowers, with expanded eligibility for financing homes in designated low-income, minority and disaster impacted communities.

  • Program Overview
  • HomeStyle Renovation is ineligible.
  • Low down payment (up to 97% LTV)
  • Affordable & Cancellable Mortgage Insurance (Lower than standard MI coverage requirements with option to cancel when loan balance drops below 80%)

FNMA HomeStyle

The HomeStyle Energy Mortgage loan is designed to support borrowers in their efforts to increase home energy efficient and reduce utility costs.

  • Program Overview
  • Pay off higher-interest energy improvement debt, including PACE & HERO loans
  • Pay off other secured or unsecured debt that financed energy-related improvements
  • Finance up to 15% of the as-completed appraised property value of a home

Professional Loan

Ideal for medical professionals with student loan debt.

  • Program Overview
  • Borrowers that are in or have recently completed a medical residency program and/or medical clinical fellowship program are eligible
  • Student loan payments that are in a period of deferment or forbearance may be excluded from the debt used to qualify
  • Future income that will take effect within 90 days from the Note date may be considered
  • Borrowers must be one of the following:
    • Medical Resident
    • Medical Fellow
    • Doctor of Medicine
    • Doctor of Dental Science
    • Doctor of Medicine or Surgery