• LoanPro

    LoanPro

    Loan Officer
    NMLS# 1661535

  • What's Your Property Worth?

    Find Out Now!

    What is a Conventional Mortgage

    A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate. The maximum limit for a conforming loan depends on the county and state you live in.
    California conventional mortgage

    Types of Conventional Mortgages

    Conventional loans can be either Fixed or an adjustable rate. Fixed-rate mortgages have a set interest rate for the entire length of the mortgage term which can be between 10 and 30 years. An adjustable-rate mortgage (ARM) has a term of 30 years with a low introductory rate for a fixed period followed by periodic adjustments according to a specific benchmark, typically a specific LIBOR or a T-Bill index.

    Questions? Contact LoanPro Today!
    X

    Get in Touch

    (844) 456-2677 2901 W. Coast Highway Suite 200
    Newport Beach, California 92663 NMLS# 1661535
      X LoanPro

      If you have any immediate questions or concerns don't hesitate to give us a call @ (844) 456-2677

      0%

      I agree to the following terms & conditions

      I hereby certify that the information given in my submission is complete and correct and is given for the purpose of potentially obtaining a mortgage loan and/or financial services applied for.