You've Found Your Dream Home-Now Find Out How to Pay for It

Primary Residential Mortgage, Inc. helps clients in the Missoula area apply for home loans. Conventional, or conforming, loans can be used to purchase or refinance one- to four-unit properties and can require as little as 3% down on single-family home purchases. The standard 30-year fixed-rate mortgage is a hallmark of conforming lending, but there are a variety of options available.

For more information about conforming home loans, call our mortgage company in Missoula, MT to make an appointment with a direct lender.

How do mortgages work?

How do mortgages work?

The internet is littered with misinformation about mortgages. Only a qualified lender from a trusted mortgage company can give you the facts. At Primary Residential Mortgage, we want you to be informed about your home loan options. When you meet with a member of our team, we'll walk you through the different loan types. One lending option is the conventional mortgage.

Conforming loan programs are the most common loans offered by mortgage banks. These loans conform to the lending standards of Fannie Mae and Freddie Mac, the entities that set the standards under which prospective borrowers need to qualify for financing.

What do Fannie Mae and Freddie Mac have to do with your home loan? These entities do not make loans. They provide a guaranty that allows mortgage banks to originate loans and package closed loans for delivery into the secondary market. This secondary market consists of aggregators who bundle mortgages into securities (bonds) that are purchased by large money center banks and investment trusts. This process ensures the free flow of capital that ultimately provides funding for mortgage finance.

This may seem overwhelming, especially if this is your first time applying for a mortgage. Don't worry-Primary Residential Mortgage is here to simplify things. We're a direct lender, not a mortgage broker. This means you'll file your application directly with us, and we'll maintain consistent communication with you during the process. Meet with a lender today to learn more about applying for a home loan.