Conventional Loan Programs
Loans are secured by government sponsored entities or GSE's such
as Fannie Mae and Freddie Mac or by private investors for loan amounts
higher than the limits set by the GSE's. Conventional loans can
be made to purchase or refinance homes with first and second mortgages
on single family to four family homes.
Fannie Mae and Freddie Mac's single family, first mortgage loan
limit is $333,700 in 2001. This limit is reviewed annually and,
if needed, changed to reflect changes in the national average price
for single family homes. The current loan limit applies to all conventional
mortgages delivered after January 1, 2001.
to common loan structures such as fixed rate, adjustable rate and
balloon loans, Fannie Mae and Freddie Mac also have loan programs
for low to no down payments, community lending and affordable housing
initiatives, construction to permanent, home improvement and reverse
If you have
any questions about a California Conventional Loan Program or any
other loan, please feel free to contact us at 855-529-5222 today
to speak with a California loan consultant or fill out our "California
Home Loan Quick Quote" form. We have cut the middle man
and large corporate overhead to bring you the best possible California
home loan rates and lowest fee.
you, for your interest in California Conventional Loan Programs