Headquartered in Riverside, Calif., Secure Choice Lending is a mortgage lender committed to helping prospective and current homeowners finance their dreams. Reachable by phone, online or in-person, Secure Choice Lending prides itself on customer service, on serving your real estate needs day or night.
Whether you are experienced in today’s marketplace or new to the industry, our staff will streamline the mortgage loan process so you can enjoy the present and the future.
A conventional loan is a mortgage that is not guaranteed or insured by the Federal Housing Administration (FHA), the Department of Veteran Affairs (VA) or any other government agency.
These loans are geared toward borrowers with higher credit scores and, at times, larger available funds for a down payment (typically 5-20%).
Conventional loans have products that provide borrowers more flexibility. Additionally, private mortgage insurance, or PMI, is removed at an LTV (loan-to-value) ratio of 80% or less.
It is likely you have heard of conventional loans before, either from your own research or a lender’s recommendation. This is because conventional loans are more commonly used than other government-guaranteed loans, such as FHA loans and VA loans.
In fact, according to the government census, conventional loans were used for 75% of all new home sales in the last quarter of 2018(1).
If you have a high credit score, and you have saved enough to make a down payment of up to 20%, a conventional loan is likely the right choice for you.
There are two types of conventional loans.
Conventional loans make home-buying affordable for many people because of their low interest rates.
It’s that simple.
While there are no down payment guidelines or standards that lenders must abide by, the size of your down payment will affect the interest rates on your loan, as well as the final loan costs.
There’s myriad information on conventional loans, and we know taking it all in at once can be pretty overwhelming.
But don’t panic!
Our loan officers are happy to answer all your questions and discuss your options.
Secure Choice Lending is a full-service mortgage broker that will secure you a mortgage that doesn’t break the bank.
To streamline the lending experience, our team of financial experts matches consumer needs with the appropriate loan programs and level of risk. With loan officers versed in all mortgage types, solutions to your home-buying questions are a phone call away.