A mortgage lender in Santa Clarita describes conventional loans and explains how homeowners can make use of them when refinancing their homes.
Santa Clarita mortgage lender American Family Funding explained that conventional loans, which are different from federal loans, may benefit Santa Clarita residents who are looking to refinance their home mortgage.
Officials from American Family Funding said that a conventional loan “generally (refers) to a mortgage loan that follows the guidelines of government sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac.”
Furthermore, these officials listed the two types of conventional loans and explained their differences.
“Conforming” conventional loans “follow the terms and conditions set by Fannie Mae and Freddie Mac,” officials from the Santa Clarita mortgage lender said.
Meanwhile, officials said that “non-conforming” loans do not adhere to these terms and conditions. Even so, officials stated that “they are also considered conventional (loans).”
Generally, conventional loans are used to purchase homes or to refinance existing mortgages. American Family Funding officials noted that these loans may be especially helpful for Santa Clarita homeowners who are “unsure about (their) credit rating, or have concerns about a down payment.”
Such customers may find conventional mortgages can grant “peace of mind with super low closing costs and flexible payment options,” officials from the Santa Clarita mortgage lender stated.
Describing themselves as a “full-service provider” who offers “a full range of mortgage resources,” American Family Funding’s stated goal is to find “the right loan with the best rates, terms and costs” to meet each client’s unique needs.
“We are here to help you throughout each step of the loan process,” officials said.
The mortgage lender also offers online services to Santa Clarita residents, which may be especially helpful during California’s current “Safer at Home” ordinance.
“You not only have access to the best loans available in the marketplace,” officials from the Santa Clarita mortgage lender said, “you can also review loan alternatives and even apply for your loan at your convenience online – 24 hours a day, seven days a week.”
Those looking for further information about conventional loans, or who are interested in exploring other loan options, can use the American Family Funding website to find out more, or may call the Santa Clarita mortgage lender directly at (661) 284-1150.
Santa Clarita mortgages lender American Family Funding can help you fulfill your dream of home ownership. A highly rated Santa Clarita mortgages lender, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly mortgage advisor will make the first time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. The Santa Clarita home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program.