While there are many types of home loans available in Stockton and the surrounding area, conventional mortgages remain among the top choices for California borrowers.
Conventional mortgages can be customized to fit your needs in terms of mortgage rates (flexible or adjustable), terms, and features.
Each year, conforming loan limits are set for Fannie Mae and Freddie Mac. These limits stipulate how much a consumer can borrower and still qualify for conventional financing.
Above those limits, it is necessary to get a jumbo loan.
As the county seat for San Joaquin County, Stockton has these conforming loan limits in 2019:
These conforming loan limits are the same ones that apply to most locations across the country. Keep in mind, however, that in higher-cost counties, higher conforming loan limits may be in place.
This is the case with some nearby counties. For example, here are the conforming loan limits for San Francisco County:
When you apply for a loan, we can inform you as to whether your financing needs fall within the conventional loan limits for the county where you will be purchasing a home.
The interest rates and terms that you qualify for with a conventional mortgage depend upon your borrower profile. Some of the factors that impact the offers you receive include:
Your credit score
Your debt-to-income (DTI) ratio
The status of your employment
How long you have been employed continuously
Past foreclosures, bankruptcies, and other financial history details
The down payment you are prepared to make
If you would like to try to raise your credit score before you apply, we offer free credit counseling to help you qualify for the most affordable rates. You may be surprised by how much more competitive you can make your risk profile even if you only have a short amount of time in which to boost your credit.
If you are ready to apply for a competitive conventional loan in Stockton or elsewhere in California, please call (209) 477-0262 or email firstname.lastname@example.org. Let’s get you into your new home conveniently and affordably.
Top Rated Mortgage Broker In Stockton
H.O.M.E. Lending is located on 1919 Grand Canal Blvd A6, Stockton. Located about 10.5 miles from the Stockton Metropolitan Airport (SCK). From the 5 Fwy exit March Ln and turn east. Then turn right at the 3rd light (McGaw) and turn into the first drive way. H.O.M.E. Lending is located directly across the street from F&M Bank.
We are open Monday - Friday 8am - 6pm.
For additional questions you can call us at (209) 477-0262 or you can find us on Yelp.
H.O.M.E. Lending is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.