Conventional Loans
If you’re thinking about buying a house in Fresno, California, it’s important to explore your mortgage choices carefully. One prevalent choice among homebuyers is the conventional loan. Conventional loans, unlike FHA or VA loans that are supported by the government, are provided by private institutions such as banks, credit unions, and mortgage lenders. At Khan Home Loan LLC, we are committed to assisting Fresno residents in navigating the complexities of conventional mortgages to secure their dream homes.
Important Factors to Keep in Mind
- Credit Profile: Applicants with high credit scores and a substantial down payment may qualify for better terms with a conventional loan.
- Down Payment Considerations: FHA loans can be a suitable choice for buyers who have limited funds for an initial payment.
- Mortgage Insurance: Conventional loans allow for PMI cancellation, whereas FHA loans may require MIP for the loan’s duration.