A conventional loan is one that is not secured by any government agency such as FHA or VA. Conventional loans do not have pre-payment penalties in just about all cases but you will want to make sure of that with your lender. Conventional loans also do not have pre-payment penalties in most cases either but again make sure by reading over your loan paperwork carefully so you fully understand the aspects of the loan.
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | email@example.com
websites: www.AustinListed.com | www.360LendingGroup.com... more
Find a good lender or broker to work with in your area. If you do not have 2-3 years experience as a landlord you may have to support both mortgages to qualify for a new home. I really can't give you anymore information based on the limited info you have provide. You certainly may but you need to go into details with a lender or mortgage broker to see what options you have.
Best of luck to you.
REALTORÂ® | Mortgage Broker
Keller Williams Realty | 360 Lending Group
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