When is a Conventional Loan the Right Choice in Arroyo Grande?

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When comparing a conventional loan vs FHA loan, a conventional home loan offers many more options:

  • Availability of anything between a 1-month ARM to a 30-year fixed
  • No mortgage insurance requirements with 20% down
  • Greater number of lenders to choose from
  • Usually fixed-rate programs with locked in interest rate for the life of the loan
  • Lending flexibility – some fees and closing costs may be waived
  • Usually requires less paperwork and can be obtained more quickly
  • Conventional mortgage requirements and regulations are far less strict

A conventional mortgage commonly follows relatively conservative guidelines for credit scores, minimum down payments and debt-to-income ratios.

We are an experienced home loan broker serving Arroyo Grande that can walk you through the pros and cons of a conventional home loan and assist in finding the best interest rates when securing a loan for you.

Not All Arroyo Grande Conventional Mortgage Lenders are the Same

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Entering the mortgage process and acquiring a conventional home loan can be confusing especially when it comes to understanding the many different kinds of lenders in Arroyo Grande because they are not all the same!

For example, there are:

  • Retail lenders
  • Direct lenders
  • Mortgage brokers
  • Correspondent lenders
  • Wholesale lenders
  • Portfolio lenders
  • Lending institutions such as credit unions or banks

As a borrower seeking a conventional home loan with the best terms and rates it is important to understand the different types of lenders and their lending operations.  Because lenders may structure their fees differently you will learn that not all lenders charge the same fees for a conventional loan.

As mortgage brokers we work with a number of highly-respected lenders to acquire the best rate and terms, and we work with you throughout the entire conventional loan process until your deal is secure and closed.

Call to schedule a consultation with our mortgage broker to learn how we can successfully fulfill your conventional mortgage requirements.

Need a Conventional Home Loan in Arroyo Grande?  Call Us!

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Conventional mortgage requirements can be confusing to a first-time borrower.

As mortgage broker financing professionals serving Arroyo Grande we can walk you through the entire conventional home loan requirements process and assist you from start to finish with the best loan program to meet your needs. 

The following is a list of some of the conventional loan requirements we will address with you before accessing a range of reputable lenders to meet your needs:

  • Your credit score
  • The minimal conventional loan down payment required
  • Debt-to-income ratio – percentage of monthly income spent on debt payments
  • Documentation of required assets and income
  • Completing a loan application

Call Brian Lardner for a mortgage broker that is positioned in the industry to find the best conventional mortgage at the lowest cost.  805-434-5226