What is a Conventional Mortgage?
These are the most common types of loans, falling under market loan limits set by the government for each county. Conventional mortgage loans include fixed rate and adjustable rate mortgages (ARMs), first-time homebuyer loans, trust deed mortgages and more. Most require a down payment, but there are choices that minimize down payment requirements. Note that most programs will require private mortgage insurance if the down payment on your loan is less than 20 percent. We can show you which option is best for your situation.
Some Special Conventional Mortgages
There are a number of special interest conventional mortgage that may apply to any specific buyer. These include but are not limited to:
USDA Rural Development loans: Allows for 100% financing of homes purchased in areas defined as “rural”. Geographic and income restrictions.
Cal HFA mortgage loans: Specific to first time home buyers, there are income and loan limit restrictions. Some programs can be combined with FHA and other government loan programs.
The best thing to do is contact us for a no-obligation free consultation. We tell you in a few minutes which choices might work best for you and quickly pre-approve you free of charge. To schedule an appointment, please call 408.686.0778 for immediate assistance.