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SedemilSedemil
  • Loans
    • Conventional Loans
    • FHA Loans
    • Commercial Loans
    • Foreign National Loans
    • Jumbo Loans
    • Refinance
  • Process
  • Apply
  • Calculator
  • FAQs
  • About
  • Contact
  • English
  • Español

CONVENTIONAL LOANS

WHAT IS CONVENTIONAL FINANCING?

Conventional financing refers to a mortgage that is purchased by Fannie Mae or Freddie Mac and is not guaranteed by the federal government, unlike other programs such as FHA and VA Financing. Conventional loans are completely made in the private sector without any government involvement. You can use conventional financing to purchase or refinance single family to four family homes.

PERFECT FOR:

Borrowers with good or excellent credit.
Borrowers who are able to put a minimum of 3% down.

Don’t wait to buy real estate, buy real estate and wait.

TYPES OF
CONVENTIONAL
FINANCING

Fixed-rate: You’ll have the same interest rate and monthly payment for the entire repayment term, even long-term financing options such as a 30-year loan.

Adjustable-rate (ARMs): You’ll start off with a lower interest rate than the fixed-rate loan, but it will be adjusted from time to time, causing monthly payments and interest to change over time.

BENEFITS OF
CONVENTIONAL
FINANCING

If you are able to make a down payment of 20% or more, choosing a conventional loan can allow you to avoid paying mortgage insurance completely (an average savings of $1000/year). However if your downpayment is less than 20%, you’ll likely still be required to pay for PMI (Private Mortgage Insurance) with conventional financing. This type of loan also typically has a shorter processing time and fewer hurdles than a government-backed loan, and can save you time in the home buying process.

READY TO MOVE FORWARD?

Begin your home loan process today! Our mortgage advisors are standing by. Have questions? Give us a call! One of our specialists will be happy to answer all of your questions and get you started with a great low rate today!

 

LET'S GET STARTED!

WHAT OUR CUSTOMERS ARE SAYING

  • We just closed today and I can’t say enough good things about Sedemil Mortgage, they guided us through everything and made the process painless and efficient. They were there every step of the way to answer all my questions.

    L. Sanchez
  • This is the second mortgage Sedemil Mortgage has helped my family with. For the next one, there is absolutely no doubt who we will use. They do everything they promised, keeping us up to date with the process. Definitely recommended!

    A. Silva
  • Thank you for making our home buying experience smooth and painless! We are so grateful for your support, attention to detail and level of professionalism as we learned the ropes of being a first time home buyer. We look forward to working with you on our next purchase!

    M. Medina

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