Competitive Rates on Conventional Loans for California Residents
Conventional Home Loans
Corbett Uzel offers competitive rates on conventional home loans with expert help to meet your mortgage needs in Burbank and beyond.
Conventional Loans: Flexibility for Your Home Financing Needs
When it comes to securing a home loan, flexibility and simplicity are key. Conventional loans are among the most popular mortgage options available, and for a good reason—they are versatile, widely accessible, and not tied to government programs like FHA or VA loans. At Corbett Uzel | Mortgage Loan Originator, we specialize in helping you navigate the conventional loan process, making it easier for you to achieve your dream of homeownership.
What Are Conventional Loans?
Conventional loans are home mortgages that are not insured or backed by a government agency. Instead, they follow the lending standards set by Fannie Mae and Freddie Mac. These loans work for borrowers who can provide a down payment, have steady income, and maintain solid credit. Whether you’re purchasing your first home, upgrading to a larger property, or investing in real estate, a conventional loan offers the versatility to match your needs.
Why Choose a Conventional Loan?
Conventional loans come with competitive benefits for qualified borrowers. Unlike government-backed loans, they often have lower upfront costs and do not require ongoing mortgage insurance if you reach 20% equity. With flexible repayment terms, you can choose a plan that suits your goals, such as a 15, 20, or 30-year term. Additionally, borrowers with strong credit enjoy lower interest rates, saving money over time. Conventional loans also allow you to finance various property types, from primary residences to vacation and investment properties.
Who Qualifies for a Conventional Loan?
Borrowers who meet specific financial criteria often find conventional loans to be an excellent fit. A credit score of 620 or higher is typically required, with higher scores improving your loan terms. Lenders also look for a steady income history and a debt-to-income ratio under 43% to ensure affordability. Down payments range from as little as 3% for certain programs to 20% or more for those avoiding private mortgage insurance. Even if your financial picture isn’t perfect, we can explore options to help you qualify.
Conventional Loan Options to Fit Your Goals
At Corbett Uzel | Mortgage Loan Originator, we offer various conventional loan solutions to fit your life. Fixed-rate mortgages provide steady payments over the loan term, ensuring predictability for long-term planning. Adjustable-rate mortgages (ARMs) start with lower rates, making them ideal for shorter-term goals or future refinancing. For buyers with smaller savings, low down payment options starting at 3% open the door to homeownership. If your dream home’s price exceeds standard loan limits, jumbo loans are available to provide the necessary funding.
Expert Guidance Every Step of the Way
Navigating the conventional loan process can feel overwhelming, but it doesn’t have to be. With Corbett Uzel by your side, you’ll receive personalized support from start to finish. We’ll help you understand your options, guide you through the required documentation, and work diligently to secure the best terms for your loan. Whether you’re purchasing your first home, upgrading to a larger space, or investing in a property, we are committed to making your experience seamless and stress-free.
Looking for a Conventional Loan? – Get Competitive Rates Today 📉
Conventional loans are the most common type of mortgage available to borrowers, offering a wide range of financing options without government backing. These loans are ideal for homebuyers with solid credit, stable income, and the ability to make a down payment.
Conventional loans come in two forms: conforming loans, which meet guidelines set by Fannie Mae and Freddie Mac, and non-conforming loans, which may exceed those limits or have other non-standard criteria. They offer flexible term lengths, competitive interest rates, and can be used for primary residences, vacation homes, or investment properties.
Unlike government-backed loans, conventional loans give lenders more flexibility in determining loan terms and conditions, which can result in better offers for well-qualified buyers. With lower mortgage insurance requirements and no upfront funding fees, conventional loans remain a popular choice for borrowers looking to avoid extra costs.
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Flexible and Affordable Financing Options
Conventional Home Loans – The Smart Choice for Homebuyers 🏡
A conventional home loan offers flexible mortgage terms, competitive interest rates, and lower costs for qualified buyers. Whether you’re purchasing a home or refinancing, discover how a conventional loan can be the right fit for your financial goals.
What is a conventional home loan?
A conventional loan is a type of mortgage that is not insured or guaranteed by a government agency, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Instead, it is offered by private lenders and must adhere to the guidelines set by Fannie Mae and Freddie Mac. These loans are suitable for a variety of property types, including primary residences, vacation homes, and investment properties.
What are the benefits of choosing a conventional loan?
Conventional loans often come with lower upfront costs compared to government-backed loans. They also offer competitive interest rates for borrowers with good credit. One significant advantage is that private mortgage insurance (PMI) can be removed once you reach 20% equity in your home, reducing your monthly payments. Additionally, conventional loans offer flexible terms and can be tailored to fit a wide range of financial situations and goals.
What credit score do I need to qualify for a conventional loan?
Most conventional loans require a minimum credit score of 620, though a higher score can help you secure better terms and lower interest rates. If your credit score is below this threshold, other loan options may be available, or we can discuss strategies to improve your score before applying.
How much of a down payment is required for a conventional loan?
Down payment requirements vary depending on the loan program. Some conventional loans require as little as 3% down, making them accessible to first-time homebuyers or those with limited savings. However, a higher down payment—typically 20%—can eliminate the need for private mortgage insurance (PMI) and reduce your monthly payments.
What is private mortgage insurance (PMI), and when is it required?
Private mortgage insurance (PMI) is a type of insurance that protects the lender in case you default on your loan. PMI is required for conventional loans when your down payment is less than 20%. Once you reach 20% equity in your home, PMI can typically be removed, reducing your overall housing costs.
What are the typical loan terms for a conventional loan?
Conventional loans offer flexible terms, with the most common being 15, 20, and 30 years. A shorter loan term, like 15 years, can save you money in interest over the life of the loan, while a longer term, such as 30 years, provides lower monthly payments. The best choice depends on your financial situation and goals.
Can I use a conventional loan to purchase an investment property?
Yes, conventional loans can be used to purchase investment properties. They are a popular choice for buyers looking to finance rental homes or multi-unit properties. However, down payment requirements for investment properties are typically higher, often starting at 15% to 20%, and credit and income qualifications may be more stringent.
What’s the difference between a fixed-rate and adjustable-rate conventional loan?
A fixed-rate loan has an interest rate that remains the same throughout the life of the loan, providing consistent monthly payments. This option is ideal for borrowers seeking stability and predictability. An adjustable-rate mortgage (ARM) starts with a lower interest rate for a set period (e.g., 5, 7, or 10 years) and then adjusts annually based on market conditions. ARMs are a good choice for borrowers planning to sell or refinance before the initial fixed-rate period ends.
Are there loan limits for conventional loans?
Yes, conventional loans are subject to conforming loan limits set annually by the Federal Housing Finance Agency (FHFA). In 2025, the limit for most areas is $765,600, but it can be higher in high-cost areas. If your loan amount exceeds these limits, you may need a jumbo loan, which we can also help you secure.
How do I know if a conventional loan is right for me?
Conventional loans are a great option for borrowers with solid credit, stable income, and the ability to provide a down payment. They offer flexibility and lower long-term costs for those who qualify. If you’re unsure whether a conventional loan suits your needs, we’ll guide you through the process, evaluate your situation, and help you make an informed decision.
What’s the process for applying for a conventional loan?
The process begins with pre-approval, where we review your credit, income, and financial history to determine your eligibility and loan amount. Once pre-approved, you’ll work with a lender to submit the necessary documentation, such as income statements and tax returns. From there, the lender evaluates your application, and once approved, you’ll proceed to the closing stage, where the loan is finalized, and you receive the funds to purchase your home.
What fees are associated with a conventional loan?
Conventional loans come with standard fees, including origination fees, appraisal costs, credit report fees, and closing costs. These expenses typically range from 2% to 5% of the loan amount. We’ll provide a detailed breakdown of these costs upfront so you can budget accordingly.
Can I refinance my existing loan into a conventional loan?
Yes, refinancing into a conventional loan can be an excellent way to lower your interest rate, reduce your monthly payments, or eliminate private mortgage insurance if you’ve built up 20% equity. Refinancing can also allow you to access cash for home improvements or consolidate higher-interest debt.
How do I get started with a conventional loan?
Getting started is simple. Contact Corbett Uzel | Mortgage Loan Originator, and we’ll guide you through the process. We’ll help you assess your eligibility, choose the best loan option, and answer any questions along the way. Have questions about financing? Fill out the form, and we’ll provide expert insights tailored to your needs!