Conventional Loans with Independent Home Finance Inc.
At Independent Home Finance Inc., we specialize in helping homebuyers in California, Colorado, and Texas secure the best mortgage options, including Conventional Loans. With over 25 years of experience, our team is dedicated to guiding you through every step of the process, ensuring you get the loan that’s right for you. Whether you’re buying your first home, upgrading, or looking to finance an investment property, we’re here to make the journey smooth and successful.
What Are Conventional Loans?
Conventional Loans are mortgage loans that aren’t backed by any government entities, like FHA or VA loans. Instead, they conform to guidelines set by Fannie Mae and Freddie Mac, making them an excellent choice for borrowers who meet specific credit and down payment requirements. These loans offer flexibility and often come with competitive interest rates, providing value for homebuyers ready to make the most of their homeownership journey in California, Colorado, and Texas.
Lower Interest Rates
For borrowers with good credit, Conventional Loans often offer lower interest rates than other loan types, helping you save over the life of the loan.
No PMI
with 20% Down
A 20% down payment allows you to avoid Private Mortgage Insurance (PMI), which can significantly lower your monthly payments.
Flexible
Loan Terms
Choose between 15, 20, or 30-year fixed-rate mortgages, or explore adjustable-rate mortgage (ARM) options for potentially lower initial payments.
Eligibility Requirements
To qualify for a Conventional Loan with Independent Home Finance Inc., here’s what you’ll need:
- Credit Score: Generally, a minimum score of 620.
- Down Payment: Depending on your financial situation, a down payment of 3% to 20% is required.
- Debt-to-Income Ratio (DTI): An ideal DTI ratio of 50% or less improves your chances of qualifying.
Compare Loan Types
| Loan Type | Down Payment | PMI Requirement | Credit Score | Use Cases |
|---|---|---|---|---|
| Conventional Loan | 3-20% | No PMI with 20% | 620+ | Primary, second home, investment |
| FHA Loan | 3.5% | Required | 580+ | First-time buyers |
| VA Loan | 0% | Not required | Varies | Veterans |
Is a Conventional Loan Right for You?
If you have strong credit, a stable income, and can afford a larger down payment, a Conventional Loan could be ideal. It’s also a great choice for those looking to finance higher-priced homes in competitive markets like California, Colorado, and Texas. For more personalized guidance, contact our experts, who are here to help you determine if a Conventional Loan aligns with your financial goals.
Common Conventional Loan Questions
Why Choose Independent Home Finance Inc.?
With Independent Home Finance Inc., you’re working with a trusted lender that’s dedicated to helping you make informed, confident decisions in California, Colorado, and Texas. We specialize in Conventional Loans that meet the unique needs of each state’s market, ensuring you have the support and guidance you need from pre-qualification to closing. Our local expertise means we understand your housing market and can help you navigate it successfully.
Ready to Learn More?
Get in touch with Independent Home Finance Inc. today and start your journey toward securing a Conventional Loan in California, Colorado, or Texas. Our team is here to assist you every step of the way, from initial inquiries to closing, ensuring a seamless and rewarding mortgage experience.
How much do you qualify for?
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