Conventional Loans in Roseville and Sacramento
Whether you are looking to buy a home in Roseville, Sacramento, or elsewhere in California, one type of mortgage which may suit your needs is a conventional loan.
With this type of mortgage and a competitive borrower profile, you could put as little as 3% down on a home.
Is a conventional loan right for you? Read on to learn more about this type of mortgage.
What is a Conventional Mortgage?
A conventional loan is one which does not include government backing. Usually, when we refer to conventional mortgages, we are referring specifically to loans which conform to the Fannie Mae and Freddie Mac conforming loan limits.
For financing which exceeds those loan limits, you need a jumbo mortgage.
Conventional Loan Limits in California
To figure out whether you can purchase a home with a conventional conforming loan, you need to look up the conforming loan limits by county. These limits are adjusted annually.
To find out the conforming loan limits for Roseville, Placer County, El Dorado County, Sacramento County, or any other CA county, please give us a call.
Qualifying for a Conventional Mortgage in
Sacramento and Beyond
To be eligible to purchase a home with a conventional conforming loan, you must be borrowing within the aforementioned loan limits.
When you submit an application for a conventional home loan, your credit score, debt-to-income (DTI) ratio and income will determine whether you are eligible and what rates you will qualify for.
Apply for a California Conventional Loan Now
Cindy Steelman has been helping homebuyers in Sacramento, Roseville, and throughout California to purchase homes with competitive conventional mortgages since 2005.
She can help you figure out whether a conventional mortgage is the right fit for your needs, and walk you through the application process quickly and easily.
To get started now, please call (916) 847-7263 to schedule your conventional mortgage consultation.