California Conventional Home Loans
A Conventional Loan is a home loan insured by either Fannie Mae or Freddie Mac. They are used for the purchase of primary, secondary and investment properties and have more restrictive credit guidelines.
BENEFITS - Conventional Loans
California Conventional loans are offered both as fixed rate and adjustable rate loans, although fixed rate loans account for the majority of home financing. The loans are available in a variety of terms from 10 to 30 years. This loan type offers a consistent or “fixed” payment throughout the life of the loan. Standard fixed rate terms: 10, 15, 20, 25 or 30 years. By choosing a shorter fixed rate option, you can realize a substantial savings in interest over the life of the loan.
California Conventional Loan Limits – The maximum loan amount allowed for a Conventional Conforming Loan is $453,100 for 2018. However, in high cost areas, there are Conventional Super Conforming Limits currently up to $729,750. To check loan limits in your area, please give us a call and one of our licensed loan officers will be happy to assist you.
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View all California new home purchase loan options.