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
- Freddie Mac and Fannie Mae Insured
- Primary, Second or Investment Property
- Single and Multi Family, Condo’s & Manufactured Homes
- Mortgage Insurance Options
- Lower Rates and Better Terms
- 97% Loan to Value – Conforming
- 90% Loan to Value – High Balance
- 80% Loan to Value – Jumbo
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.
Are you a US Veteran? A California VA Loan might be your best loan option.
Are you a 1st Time Home Buyer? A California FHA home loan might be your best loan option.
Are you Looking to Purchase a Rural Property? California USDA home loan might be your best loan option.
View all California new home purchase loan options.