What is a Conventional Santa Clarita Mortgage

Most Homeowners don’t understand the difference between a What is a Conventional Santa Clarita Mortgage. and other mortgages. We will try to help you understand what the main criteria for a conventional mortgage.

A conventional home loan is usually a loan with 20% down. Home loans with less down are usually non conventional. A conventional mortgage can be sold to Fannie Mae or Freddie Mac. There are other types of loans but conventional home loans make up more than 80% of all mortgages.

If a Borrower can not come up with the 20% down! normally they will get an FHA home loan that only requires 3.5% down and is insured by the Government thru the Federal Housing Association.

Another type of home loan is a VA home mortgage. These are only available to Vets and other eligible military personal.

Use our handy mortgage payment calculator to find out how much your monthly house payment would be on a Conventional Santa Clarita Mortgage . Visit www.MortgageConsumer.com for more information.