Getting A Loan today

Me and my wife are finally purchasing our first home. We were lucky, with the recent buyers market, home prices have fallen thirty percent or so and our loan was able to qualify in the category of conventional loans. That simply means it is under $415,000 and is assumable. It may mean some other technical things, but one thing for sure for us is it means a good interest rate. Before the housing prices fell, it was hard pressed to get a loan that was considered conventional and we would normally have to pay an extra point or two. We just saved thousands over the life of the loan.