Although interest rates are on the rise, it's still a great time to purchase a home. Speak with one of our expert loan officers today!

Conventional Mortgage Loans in NH, MA, ME, CT, RI, VT, FL, NC, CO, TX, GA and SC

Conventional loans are the most common type of loan. They are private-sector loans that are not government-backed but follow guidelines set by Fannie Mae and Freddie Mac.

As these loans are not government-backed, there is no guarantee to the lender if a borrower defaults, and so requirements are more stringent. However, if you have good credit and have money set aside for a down payment, conventional loans are very affordable in the long term and could be a wise investment.

10 year and 15 year

These loans accumulate equity very quickly. They typically have some of the lowest rates of any mortgage and are ideal if you can afford the monthly payments. If you are looking to own your home and get the most out of your investment quickly, a 10 or 15-year mortgage is the way to go.

30 year

While these loans build equity more slowly and have slightly higher interest rates than 15-year loans, their long lifespan translates to much lower monthly payments. If you plan to be in your home for a long time, a 30-year mortgage may be right for you. These are also a great tool allowing you to invest the monthly savings in other investment instruments like your 401k, a 529 plan for the kids, stocks, bonds, or mutual funds.

To pre-qualify, or for any questions you may have about conventional mortgages, talk to a Blue Water Mortgage broker today.

Blue Water Mortgage is licensed in New HampshireMaineMassachusetts, Vermont, Connecticut, Rhode Island, North Carolina, Colorado, Florida, Texas, Georgia, and South Carolina.

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Why Blue Water Mortgage
No Surprises
No Surprises
With over 150 years of collective experience, our mortgage brokers have seen it all. This level of expertise enables us to anticipate and quickly resolve any issues that might arise and close on time, every time.
Personalized Services
Personalized Services
Buying a home is one of the biggest purchases you’ll make in your entire life. That’s why our brokers are available via phone 24/7 to address any concerns or answer any questions you might have about the mortgage process.
Competitive Rates
Competitive Rates
Blue Water is locally owned, so we aren’t beholden to banks. That means we’re able to offer a more diverse portfolio of mortgage products tailored to your specific needs, as well as more competitive rates and lower closing costs.

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The Mortgage Process

Getting to Know You & Getting On Track
In our first meeting, we’ll answer your questions and talk about the programs we offer that would best fit your situation.
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Getting Pre-Qualified
The next step in the mortgage loan process is applying for pre-qualification, which enables us to confidentially verify your credit, income, assets, and liabilities.
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Assessing Loan Programs & Rates
At this point, we’ll start to sort through and evaluate which mortgage best fits your needs.
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Obtaining Loan Approval
Once you’ve submitted your loan application, we’ll work with our lenders to help find you the best rate and most favorable terms possible.
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Closing the Loan
After your loan is approved, we’ll review the details once more to make sure you feel confident about the financial commitment you are about to make. Once all of your questions are answered, we will schedule a closing.
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Home Loan Resources

10 Questions to Ask When Buying a Home
eBook

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Down-Payment-Worksheet
Worksheet

Use our Down Payment Worksheet to get a idea of what you can afford to spend.

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monthly budget
Worksheet

Determine just how much you’re able to afford on a monthly basis to ensure you’re not in over your head with your monthly mortgage payments.

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Please be advised that your actual rate, payment, and cost could be higher. Get an official Loan Estimate before choosing a loan. This estimate is provided for informational purposes ONLY, to assist you in determining an estimate of cash that may be required to close and an estimate of your proposed monthly mortgage payment. Actual charges may be more or less, and your transaction may not involve a fee for every item listed.

Rate and APR based on the following assumptions: Purchase Price of $250,000, loan amount of $200,000, 75% loan to value, 780 credit score, single family property, primary residence, escrowing taxes and insurance, debt ratio within program guidelines.

Rates posted are effective as of 9/24/2024.