“Aligned Mortgage is a VA approved lender, however not affiliated with the Dept. of Veterans Affairs or any government agency”
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“Aligned Mortgage is a VA approved lender, however not affiliated with the Dept. of Veterans Affairs or any government agency”
A conventional mortgage sometimes referred to as a conforming loan, is a loan that is not insured or backed by any government entity. Instead, conventional loans follow guidelines set by Fannie Mae and Freddie Mac (agencies that help standardize mortgage lending in the US). Conventional mortgages range in length, with popular options being 10, 15, or 30 years*. Interest rates for conventional mortgages are competitive and vary based on credit score, loan term, and other factors.
If you have a sizable down payment and good-to-excellent credit, a conventional mortgage may be a good fit for you. You may also want to consider a conventional loan to take advantage of certain benefits the product can offer. For example, there generally isn’t an upfront funding fee. Conventional loans also typically provide some flexibility when it comes to property types and expectations that government-backed loan products don’t.
Conventional loans require a monthly mortgage insurance fee, or private mortgage insurance (PMI), when a homeowner puts down less than 20%*. Private mortgage insurance rates vary depending on factors like credit score and down payment. The premium for your mortgage insurance will be added to your monthly mortgage payments. The private mortgage insurance doesn’t cover the homeowner, rather it serves as protection for the lender to cover losses should you default on your home loan.
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© 2022 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs, and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity | Powered by Tribu Marketing and Advertising.
NV MB 2941/164. Georgia Residential Mortgage Licensee.
AZ Corp BK 0906702
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Regulated by the Colorado Division of Real Estate
Licensed by the Dept of Financial Protection and Innovation under the CRMLA
Licensed under the Oregon Consumer Finance Act
Licensed by the Department of Savings and Mortgage Lending, SML Banker
AZ BK 0906702
Georgia Residential Mortgage Licensee
Licensed by the N.J. Department of Banking and Insurance
Rhode Island Licensed Lender
Registration 1850 & SML Residential Mortgage Loan Servicer Registration
PURSUANT TO THE REQUIREMENTS OF SECTION 157.007 OF THE MORTGAGE BANKER REGISTRATION AND RESIDENTIAL MORTGAGE LOAN ORIGINATOR ACT, CHAPTER 157, TEXAS FINANCE CODE, YOU ARE HEREBY NOTIFIED OF THE FOLLOWING: CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE, SIGN AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE DOWNLOADED AND PRINTED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.
