Conventional Loans

Conventional Fixed & Adjustable Rate Mortgages

Conventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.

While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options as low as 3% & 5%.

Fixed Rates Are Very Low!

If you plan to stay in your home for the long term, sleep tight knowing you will have the stability of a consistent payment that never changes. Plan your budget with a mortgage payment at a low rate that will stay the same through the life of your loan.

How It Works

  • Monthly payments based on interest rate, principal loan amount, and amortized interest over 10,15, 20, or 30 years
  • Your payment will not change throughout the life of the loan
  • Your actual payment will vary based on your situation and the current inerest rates when you apply
  • Pay your mortgage off without pre-payment penalties

Qualification Requirements

  • Refinance up to 95% of your primary home’s value (rate & term only)
  • Buy a home with as little as 3-5% down (primary home), with some requirements
  • Loan amounts from $50,000 to $2,000,000

Adjustable Rates are Very Low Too!

Many Adjustable Rate Mortgages (ARMs) will start at a lower interest rate than fixed rate mortgages. Because you allow the lender to  adjust the rate based upon specific economic indices at specific intervals, you are offsetting risk for the lender and thereby benefit from taking on some risk yourself. This initial rate may stay the same for months, one year, or a few years. When this introductory period is over, your interest rate will change and the amount of your payment may go up considering the low rates today.  Consider ARMs when you may not be staying in your home past a few years or you need the lower payment now in anticipation of greater income in the future.

How it Works

  • Monthly payments based on interest rate, principal loan amount, and amortized interest over 15 or 30 years
  • Your payment will change throughout the life of the loan because the interest rate is calculated on a changing economic index plus an unchanging margin
  • Your actual payment will vary based on your situation and the current interest rates when you apply and at specific intervals through the life of the loan
  • Pay your mortgage off  without pre-payment penalties

Qualification Requirements

  • Refinance up to 95% of your primary home’s value (rate & term only)
  • Buy a home with as little as 3-5% down (primary home), with some requirements
  • Loan amounts from $50,000 to $2,000,000

We are exceptional from every angle on structuring rates, contact us today!

Links

Licensing

NMLS#276612

NMLS# 982017
Subsidiary of West One Capital Group 

Contact Us

Champions Drive, Beaumont, CA 92223
Phone: (949) 264-2304

Email: mary@isoscelesmortgage.com 

BUSINESS HOURS

M-F: 8:00 am - 5:00 pm By Appt.
Evenings and Weekends Available by Appt.

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