What is a Conventional Loan?
Conventional loans are mortgage loans used for either purchase or refinance that are not insured by a government entity, but conform to the guidelines of either Fannie Mae or Freddie Mac. They may have either a fixed or adjustable rate. Conventional loans have minimum down payment requirements as low as 3%.
Conventional Loan Limits
The nationwide loan limit is $424,100. However, different counties have different limits on how much you can borrow for a Conventional Loan. San Diego County has a loan limit of $612,950.
Get Pre-Approved for a Conventional Loan
If you are looking to purchase a home or refinance in La Mesa, El Cajon, Alpine CA, Mt. Helix, greater San Diego or anywhere in the state of California, contact Craft Home Loans at (619) 867-0975 for more information, or simply fill out the form on this page.