Explore the Benefits of Conventional Fixed-Rate Home Loans-Work with a Trusted Brokerage in the Santa Rosa, CA Area

Are you finally ready to purchase a home? This is a big step for anyone and the choices you make during the homebuying process can affect the rest of your life. Finding the right home loan may be just as important as finding the right home. If you can qualify for a conventional fixed-rate mortgage, you are likely in a good position to afford your home purchase in the long run. You First Mortgage is a licensed brokerage that offers personalized mortgage services to clients in and around Santa Rosa, CA. We work with our clients on a personal level to find home loan options that fit their unique needs and financial situations. Our professionals can pre-qualify you and get you rates from various lenders. They can also help you weigh your options based on your personal circumstances, like choosing a 15-year vs a 30-year fixed-rate mortgage.

Contact us today in order to speak with an experienced professional. We'll make your mortgage-shopping process as easy and convenient as possible. We have well-established relationships with a variety of mortgage lenders. We use this advantage to give you easy access to an array of mortgage options. When you partner with us, we are with you from processing to underwriting to closing the deal. Find out if a conventional fixed-rate mortgage is right for you and start getting rates. Call (707) 919-3103 or fill out our online contact form in order to get in touch with us. We're looking forward to hearing from you and helping you get the most suitable home loan for your situation.

What Is A Conventional Fixed-Rate Mortgage?

What Is A Conventional Fixed-Rate Mortgage?

A conventional mortgage isn't backed by the FHA, VA, or any other government agency. Income and down payment requirements for these loans typically meet those set by Fannie Mae and Freddie Mac. The loan limits typically conform to those set by the FHFA.

Conventional home loans are a popular, lower-cost option for many first time home buyers. They also work well in many refinancing situations. When you get a conventional fixed-rate mortgage, your interest rate is locked-in and you'll never have to worry about payments going up. These mortgages typically last for terms of 10, 15, 20, and 30 years. Borrowers who can make a down payment of 20% or more get the advantage of not having to pay for additional mortgage insurance. Even if you pay a down payment less than 20%, you can eliminate mortgage insurance once you reach 20% in equity, without the need to refinance. Conventional loans can finance your primary residence, a second home/vacation home, or even a rental property.

Finance Your Home With A Fixed Mortgage

Are you considering financing your home with a conventional fixed-rate mortgage? Here are some things you should consider:

  • Down Payment: Almost all conventional fixed-rate mortgages require some kind of down payment. However, many homebuyers are surprised by the minimum down payment on some conventional loan options. In some cases, you can qualify for one with as little as 3% down payment.
  • Interest Rate: With a conventional loan, you don't have to worry about fluctuating rates. Also, conventional fixed-rate mortgages often offer lower interest rates and APRs than other types of fixed-rate loans.
Get a variety of home loan rates around Santa Rosa, CA. Contact You First Mortgage today.

Choosing the Best Option for Your Situation

If your budget will allow for higher payments, a fifteen-year loan will put you in a much better position than a 30-year loan by reducing the total amount you spend on interest over the course of the mortgage. In some cases, buying a less expensive home or tightening other areas of your budget may be worth it to lock in a shorter-term mortgage.

When you choose You First Mortgage, you're choosing a firm that truly has your best interests at heart. Find out for yourself why we are one of the Santa Rosa area's most trusted mortgage companies-call (707) 919-3103 today to get started!