Conventional Loan Program

Why Go for Conventional Loan Program?
Conventional loan is a kind of mortgage that is not guaranteed or insured by any government agency which means that:

It sets the maximum loan amount and requirements for borrowers
It is a 30-year fixed rate mortgage
Requires at least a 20% down payment
Even if the borrower does not have a 20% down payment, it is still possible to get a mortgage

Conventional Loan Program Guidelines
Sales price of the home cannot exceed CalHFA’s sales price limits established for the county in which the property is located
Be a single-family, one-unit residence, including approved condominium/PUDs

Fico Score:
Must have at least 2 reported scores with a minimum of 640

Co-borrower No FICO:

Borrower No FICO Score:

30 year / 15 year / 5 year / 3 year

Owner Occupied only

40 / 50

Maximum Loan Amount:

Eligible Borrower:
Only borrowers with a valid social security number are allowed

Maximum Borrowers:
4 borrowers per loan

Property Type:
Attached / Detached SFR
HUD Approved Condos
2 – 4 Units