Conventional Loan


The Bill Mervin Team by NJ Lenders Corp. are Conventional Mortgage experts! Conventional loans are any loans that are non-government funded, unlike FHA and VA loans. They come in two forms: conforming and non-conforming. Conforming loans follow loan limit guidelines, where non-conforming loans offer the option to exceed loan limits enforced by the government and government-backed agencies.

In terms of mortgages, they offer the best interest rates, meaning they usually result in lower monthly payments. They are usually considered the steadiest, safest type of loan, and allow the borrower to avoid rising mortgage interest rates.


These are great for many home buyers because of their ideal rates, low costs, and added flexibility. When applying, you must meet 3 initial requirements:

  • Be able to make a down payment.
  • Meet the minimum FICO credit score (often 620 or above)
  • Prove a stable income

Another benefit to taking out a conventional home loan is the flexibility they provide for different types of local properties. Eligible properties include single-family homes, condominiums, multi-unit properties, and planned unit developments.

So, if you have a decent credit score and available funds to make a down payment on an eligible property, it is likely you will qualify for this when buying a home.


Most importantly: RESEARCH. Before taking out a loan, make sure to speak with a mortgage broker about the perfect loan for you, and look into home loan mistakes. Some of the most common mistakes people make is not checking their credit beforehand and ignoring the real expenses of home ownership in the area.

Conventional home loans are safe, beneficial option for homeowners needing to take out a home loan. Contact Bill Mervin Team today for any further information or questions about them.

What’s Next?

After you purchase your home and get your loan, you may think that everything is up to you to manage. But with the Bill Mervin team, you will continue to be supported and educated on how to manage your mortgage. The Mortgages Under Management is a program that will guide you after getting the keys to your home. We offer quarterly updates and annual mortgage planning reviews for any changes in your life situations. Our goal is so you have expert guidance at all times, always have a perfect mortgage. Contact Bill Mervin Team today to learn more about the ‘Mortgages under management’ program.


Monthly Mortgage Payments

free mortgage calculator by mlcalc.com

Buying a home has been the primary way Americans have built wealth for decades. In today’s world, new technology and a multitude of financing options have intersected to create a host of options for buyers – and they’re taking notice. Whether you’re buying your first home or your fifth, we’re here to help.

Conventional Purchase Loans

Conventional loans are ideal for homebuyers with good credit scores. There are a variety of loan programs for with different minimum down payments. We lend both conforming and non-conforming (jumbo) loans.

  • Minimum down payment requirement
  • Advantages for higher down payments
  • Ideal financing for properties commonly restricted by government loans
  • Several mortgage insurance options available for loans with less than 20% down, including:
    • One-time, upfront insurance
    • Monthly mortgage insurance, which could cancel at 78% equity
    • Financed mortgage insurance
    • Lender paid mortgage insurance

An FHA loan is an attractive option for many first-time homebuyers because it allows for lower down payment and easier credit qualifying.

  • 3.5% down payment
  • Program can be combined with additional down payment assistance programs to further reduce costs
  • Monetary gifts from family can be accepted towards down payment
  • Seller can pay up to 6% towards closing cost / prepaids
  • Fixed or adjustable rates available
  • Shorter waiting period after a derogatory credit event

VA Mortgage

Designed for active-duty military, veterans, reservists, and the surviving spouse of a veteran, VA loan programs offer up to 100% financing (based on VA lending limits) for purchase loans, and up to 100% for cash-out refinances.

  • 0% down payment (based on VA lending limits and VA eligibility)
  • Seller can pay all closing costs and escrows
  • Seller can pay debts in veteran’s name to help qualify
  • VA funding fee may be financed
  • Fixed or adjustable rates available
  • No monthly mortgage insurance premiums


Refinancing is the process of getting better terms on your current mortgage by taking out a completely new loan. This new-and-improved mortgage will leverage positive market conditions, and Apex can customize it to your financial goals, helping you to achieve:

  • Lower monthly payments
  • Shorter loan terms & greater financial stability
  • Adjustable to fixed-rate loan conversions
  • Consolidated debt
  • Home enhancements & renovations
  • Removal of Private Mortgage Insurance premiums
  • Low Down Payment Programs
  • Low Credit Score Programs
  • Customized Marketing Support
  • Strong Core Values
  • 95 Net Promoter Score
  • Consistently Close Clear & On-Time
  • Firm Established in 1998
  • Direct Lender
  • Cutting-Edge Technology
  • Consumer Connect Digital App
  • Wide & Diverse Product Mix
  • Heroes First Program


We don’t need an email address. We want a more educated buying experience for our clients.


Areas Served

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