Flexible Conventional Loans (Fannie Mae and Freddie Mac) for Your Homeownership Needs
At Mission San Jose Mortgage, we understand that each borrower has unique homeownership needs. That’s why we offer flexible Conventional Loans backed by Fannie Mae and Freddie Mac. These loans provide you with various term and condition options to suit your specific requirements. Here are the key features of our Conventional Loan offerings:
- Loan-to-Value (LTV): We offer up to 99% financing for eligible property types. This means you can secure a loan with a down payment as low as 1% of the property value, making homeownership more accessible.
- Mortgage Insurance Options: If your investment is less than 20%, we provide three types of mortgage insurance options. Our loan officers will guide you through the available choices, helping you determine the best option that fits your financial situation.
- Property Type Flexibility: Our Conventional Loans are allowed for primary residences, second or vacation homes, and investment properties. Whether you’re looking to purchase your dream home, a vacation getaway, or an investment property, we have you covered.
- Property Type Eligibility: We offer Conventional Loans for a variety of property types, including condos, townhouses, single-family homes, and 1 to 4-unit properties. This flexibility allows you to choose the property that suits your lifestyle and investment goals.
- County Loan Limits: Loan limits may vary by county, and our loan officers are well-informed about the limits in your area. We can provide guidance on the maximum loan amount available based on the location of the property you intend to purchase.
- Term Options: We offer both fixed and adjustable terms for our Conventional Loans. Whether you prefer the stability of a fixed-rate mortgage or the flexibility of an adjustable-rate mortgage, we have options to accommodate your needs.
Minimum FICO Score: We have flexible FICO score requirements to accommodate a wide range of borrowers. Whether you have excellent credit or a as low 620 credit score, we can help you explore the options available based on your unique situation.
Down Payment Options: Our conventional loans offer different down payment options, allowing you to choose the option that aligns with your financial capabilities and goals. We provide options ranging from 1% down to 5% down, with various increments in between. This includes popular down payment options such as 1% down and 3% down programs.
Mortgage Insurance Benefits: Depending on your down payment amount and other factors, you may be eligible for different types of mortgage insurance. We offer lender-paid mortgage insurance, where the lender covers the cost of mortgage insurance, reducing your monthly payment. Alternatively, you can opt for borrower-paid mortgage insurance, which can be paid upfront as a one-time payment or added to your monthly mortgage payment. Our loan officers will help you understand the benefits and costs associated with each option.
Term and Condition Options: We provide a range of term options for your conventional loan, allowing you to select the repayment period that works best for you. Whether you prefer a 30-year fixed-rate mortgage or a shorter term like a 15-year or 20-year loan, we can customize the loan to fit your needs.
Location-Specific Programs: We are familiar with state, county, and city-specific programs that offer additional down payment assistance or benefits. These programs can vary based on your location, and we can help you explore the options available in your area.
No-FICO Programs: In addition to conventional loans based on credit scores, we also offer no-FICO programs. These programs cater to borrowers who have limited or no credit history, providing alternative ways to assess creditworthiness and determine loan eligibility.
At Mission San Jose Mortgage, our experienced loan officers will work closely with you to understand your financial goals and guide you through the process of selecting the right conventional loan option. We provide clear explanations of the various down payment options, mortgage insurance benefits, and term conditions to ensure you make an informed decision.
We proudly serve clients in 12 states across the United States. Our mortgage loan options and assistance programs are available in the following states:
- Arizona
- California
- Colorado
- Florida
- Georgia
- Idaho
- Montana
- New Mexico
- Oregon
- Texas
- Washington
- Wyoming
Whether you’re looking to purchase a home or refinance your existing mortgage, our experienced loan officers are ready to assist you. We have extensive knowledge of the local real estate markets in these states and can provide tailored solutions to meet your specific needs.
From conventional loans to government-backed programs, portfolio loans, and private money options, we offer a comprehensive range of mortgage products to accommodate various financial situations and goals. Our commitment to exceptional service, clear communication, and professional guidance sets us apart as a trusted mortgage partner.
At Mission San Jose Mortgage, our knowledgeable loan officers are ready to assist you in exploring the benefits of our flexible Conventional Loans. We can help you navigate the loan process, explain the advantages of each feature, and ensure you make an informed decision that aligns with your homeownership goals.
Contact us at 888-848-7199 to speak with one of our experienced loan officers. They will provide personalized assistance, answer your questions, and guide you through the down payment assistance and grant programs available in your state. We are committed to making your homeownership dreams a successful reality.
