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Conventional Loans

What We Do Differently

At Attorneys Funding Group, our unique blend of legal and financial advising ensures that you get the best conventional loan you are able, and under optimum conditions. We are certain that once you experience our professionalism, knowledge and experience, you will find it difficult to take your financial dealings elsewhere. Give us a call today. We look forward to earning your business.

What is a Conventional Loan?

A conventional mortgage simply refers to any mortgage loan that is not insured or guaranteed by the government. Conventional loans can be either fixed or adjustable-rate mortgages and may be either conforming or non-conforming. Conforming simply means that the loan meets the guidelines or standards set forth by Fannie Mae and Freddie Mac.

Loan Amounts and Conforming

One major factor that determines whether a loan is conforming or not is the loan amount. Loans over the conforming loan limit are considered jumbo loans and come with a higher interest rate. Still, both are considered conventional. Typically, conventional loans have higher down payment and credit score requirements than government loans; at least five percent down payment is required and in most cases, a credit score of at least 620 is necessary for approval.

Mortgage Insurance

Mortgage insurance is not required per conventional guidelines unless the borrower has less than 20 percent equity in the home. The borrower may start off with less equity and mortgage insurance, and refinance to get rid of the mortgage insurance when they reach 20 percent equity or greater.

More Info in More Places

In addition to our Roseville office, we have offices in Manteca, Chico and San Diego, California. We also have offices in Las Vegas, Nevada, and Honolulu, Hawaii, in order to serve you better. If you have questions about any phase of the conventional loan process, please reach out to our trained professionals in any of our locations. We look forward to helping you.
conventional loan