Conventional

Conventional loans are a popular and widely available type of mortgage financing, offered only by private lenders. They give you flexibility in your finances and home choice.

Down Payment Options

You can choose to put down the payment that works for you. Usually this is between 3% to 20% of the home's price with a conventional loan. The more you put down, the less you'll have to finance.

Property Flexibility

A conventional loan offers flexibility in terms of property types and loan purposes. You can use it to purchase primary residences, second homes, or investment properties.

Interest Rate Choices

Conventional loans come with different interest rate options. You can choose between a fixed rate, where your interest stays the same, or an adjustable rate, which might change over time.

Widespread Availability

Conventional loans are the most common type of mortgage, widely available by various lenders. This accessibility makes them a popular choice for home buyers.

Distinct Requirements

While conventional loans require higher credit scores compared to government-backed loans, they can still be accessible if you have a credit score of 620+. Conventional loans also have maximum loan limits set by Fannie Mae and Freddie Mac (government sponsored entities), which vary by location and are adjusted annually to reflect changes in housing prices.

Private Mortgage Insurance

When you make a down payment of less than 20% of the home's purchase price, generally you will be required to pay for private mortgage insurance (PMI). However, once you have built enough equity in the home, typically reaching 20% through payments or appreciation, you can request the removal of PMI.

Flexibility meets affordability.

Secure in your home and your finances...

From first home to cozy getaway to investment opportunity.

Cindy Regan - Originating Branch Manager - NMLS #264375

The Lending Authority Team - Hancock Mortgage -Powered by City First Mortgage Services LLC - NMLS #3117

Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. The Lending Authority Team powered by City First Mortgage Services is not an agency of the Federal Government, and is not acting on behalf or at the direction of HUD/FHA.

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Cindy Regan - Originating Branch Manager - NMLS #264375

The Lending Authority Team - City First Mortgage Powered by Gold Star Financial Group

NMLS #3446

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Gold Star Mortgage Financial Group, Corporation (NMLS ID #3446) is an Equal Housing Opportunity lender and FHA-approved lender. Gold Star Mortgage Financial Group, Corporation is a California financial lending institution licensed by the California Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Gold Star Mortgage Financial Group, Corporation is not the FHA or any other government agency. The FHA does not directly originate, underwrite, service, or guarantee any residential mortgage loan. Not all products are available in all states.

Gold Star Mortgage may choose to recommend Modern Title Group LLC (at times, d/b/a Gold Star Close) or Radiant Insurance, LLC. Gold Star Mortgage has a direct or indirect financial or ownership interest in Modern Title Group LLC (at times, d/b/a Gold Star Close) and Radiant Insurance, LLC. You are not required to use either Modern Title Group LLC (at times, d/b/a Gold Star Close) or Radiant Insurance, LLC.