Here in Orange County due to the higher cost of living, the conventional loan product tends to be the most universal means to obtaining a home loan. Additionally, the “Conventional” loan can be split into two separate categories:
- Conforming loans, those that meet Fannie Mae and Freddie Mac standards and,
- Non-conforming loans, those that do not meet Fannie and Freddie standards.
Why use conventional financing?
- To provide access to Jumbo Loan Programs
- Second/Vacation Home Financing
- Investment Property Financing
- Homestyle and Homepath Renovation Loans
- 95-97% Financing: FHA Alternative