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Points Explained |
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What are mortgage points and when, if ever, does it make sense to pay them? |
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Fees Explained |
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What are the 'real' costs of my California Mortgage? This will help explain exactly where your money is going - and where it shouldn't be going...
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Learn More
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Others Are Saying... |
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"The service was great and so was my rate! There weren't any hassles at all - they listened to my concerns, answered all of my questions, plus I got a better rate than I expected."
Thanks again,
G. Frederickson
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Conventional Mortgage Definition
A Conventional Mortgage is a non-governmental loan (So the term does not refer to FHA, VA or other
Government-Assisted Programs) that falls within Fannie Mae guidelines,
and covers loans up to predetermined amount. The current conventional morgage limit is $417,000.
Fannie Mae guidelines allow for Fixed Rate and Adjustable Rate loans of many varieties, though it
excludes Negative Amortization, Interest-Only, Stated Income, No Income No Asset, and other
'Niche' programs that have become popular in recent years.
The term, then, refers to the very
standard and traditional loans most people were familiar with prior to the introduction of such
Niche lending programs.
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Conventional Mortgage Definition - Find the definition of mortgage loan terms using our
morgage glossary - Apply Online or Call Us Today at 1-888-835-0761...
We don't sell your information to multiple brokers and call it 'competition'
