Jose   Bermejo

Jose Bermejo

REALTOR/Loan Originator

License #: DRE: 02085611 - NMLS :1839718

World Premier Realty WPR & American Home Loans AHL

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A conventional loan does not have the Insurance or guarantee from the government.
In this type of loan, lenders create their own guidelines, which are often adjusted according to market conditions.

On this type of loan you may find fixed & adjustable rates. Also, flexibility is one of the best since the qualifying criteria of the lender varies and provides a variety of financing options.

The conditions of the property matter and are evaluated according to the criteria of each program. For a conventional loan the criteria is more flexible than the FHA.

Within the conventional loans we also have those oriented to borrowers with low income who want to purchase or refinance: Home Ready (Fannnie Mae) – Home Possible (Freddie Mac).

This kind of programs allow borrowers to buy with a minimum of 3% Down payment. One of their benefits is that the Mortgage Insurance can be canceled when the balance falls below 80% of the value of the property.





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