California Conventional Loan Programs
California Conventional 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.
In general, 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.
In addition 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 mortgages.
If you have any questions about a California Conventional Loan
Program or any other loan, please feel free to contact us at (888)
694-0455 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.
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