Owning a home is the American dream. But most of us require mortgage funding in order to make that dream come true. For many homeowners, this will come in the form of a conventional loan.

What is a Conventional Loan?

A conventional loan is a mortgage that complies with a set of eligibility requirements that are set by FNMA (Fannie Mae) and FHLMC (Freddie Mac). These mortgages are made by banks and other lending entities that underwrite their loans to the requirements of these agencies. Currently, conventional mortgages represent nearly two-thirds of mortgage loans issued in the United States.

Choosing a Lender

If you have a strong credit score, a solid income and at least 3 percent to put as a down payment, a conventional loan in San Jose has many options and may be the best fit for you. But how do you know which lender to choose?

If you are purchasing a home or considering refinancing the one you own, you owe it to yourself to get professional help when shopping for a mortgage. Because lenders are very different when it comes to San Jose conventional loan offerings, it helps to have a mortgage professional in your corner to help you get the most competitive mortgage for your needs.

The Advantage of an Independent Mortgage Broker

That is where we come in. At Alliance Lending, we are independent mortgage brokers and have partnerships with multiple different lending institutions. In this way, we can help you find the best rates and terms for your particular lending needs. Whether you are buying a home or looking to refinance, we can help you secure the best possible financing based on your individual financial profile and credit history.