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No Closing Cost Loans are available in California.

30 Year Fixed

 

3.875% / 3.875% APR

 

Loan amounts up to $417,000

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Conventional Mortgage

A conventional mortgage is a loan that is not guaranteed or insured by any government agency.  It is typically fixed in its terms and rate.

A fixed rate mortgage from lenders typically comes with a fix rate interest rate over the life of the loan, usually set to 30 years. This means the full balance of the loan plus interest must be paid off in full over 30 years and the interest rate is fixed and all not adjust based on the market. Usually conventional loans have a lower interest rate over other types of loan such as FHA, VA or Jumbo loans.

Conventional loans are not guaranteed or backed by government entities such as FHA or VA, however they are given out based on the guidelines of Fannie Mae and Freddie Mac.

Conventional mortgage as mentioned before carry a better interest rates over other types of loans, and it is a great options for those with at least 20% down payment. There some conventional loans available in the market now that require less down payment, but it carries a private mortgage insurance.

Private Mortgage Insurance for conventional loans with less than 20% equity is somewhat similar to mortgage insurance, which is required by FHA loans.

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30 Year Fixed

3.875% / 3.875% APR

 

Loan amounts up to $417,000

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15 Year Fixed

3.25% / 3.25% APR

 

Loan amounts up to $417,000

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30 Year Fixed

3.91% / 3.91% APR

 

Loan amounts up to $625,000

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