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Conventional Loans in Glendale
Glendale's housing market sits squarely in conventional loan territory. Most properties here fit within conforming limits, making these loans the default choice for buyers with solid credit.
Without government backing means lenders set their own credit standards. That gives us more room to shop for competitive terms across our 200+ wholesale lenders.
Conventional loans work best when you can put down at least 5%. The stronger your down payment and credit score, the better your rate and the lower your monthly payment.
You need a 620 credit score minimum, but 740+ gets you the best pricing. Debt-to-income caps at 50% with most lenders, though some approve up to 45% on tighter deals.
Down payments start at 3% for first-time buyers. Put down 20% and you skip mortgage insurance entirely. Between 5-19% down, expect PMI until you hit 20% equity.
Two years of stable income history matters more than job title. Self-employed borrowers need two years of tax returns showing consistent earnings.
Conventional rates vary wildly between lenders on the same day. One lender might quote 6.5% while another offers 6.125% for identical qualifications.
Shopping across wholesale lenders gives you pricing retail banks can't match. We compare 200+ options to find the best combination of rate, fees, and underwriting flexibility.
Some lenders excel at fast closes, others handle complex income better. Matching your specific situation to the right lender matters as much as rate.
Glendale buyers often qualify for conventional but choose FHA out of habit. That costs them money. FHA requires upfront mortgage insurance and monthly PMI that never drops off.
If you can scrape together 5% down and have 680+ credit, conventional beats FHA every time. Lower monthly payments and PMI that eventually disappears.
Second homes and investment properties in Glendale require conventional loans. Government programs only cover primary residences, so knowing conventional guidelines matters for investors.
FHA allows 580 credit with 3.5% down, but costs more monthly. Conventional needs better credit but saves money if you qualify for both.
Jumbo loans kick in above $806,500 in Los Angeles County. They require 10-20% down and stricter credit standards than conventional conforming loans.
VA loans beat conventional on price if you're military, but conventional works for everyone. No funding fee and no certificate of eligibility needed.
Glendale condos require lender approval of the HOA financials. Conventional loans have stricter condo certification than FHA, but more lenders approve them.
Properties near Burbank Airport sometimes appraise lower due to noise. That affects loan-to-value and might require larger down payments to close the gap.
Older homes in central Glendale can trigger appraisal conditions. Conventional lenders typically allow repairs after closing, unlike FHA which requires fixes upfront.
Minimum 620 to qualify, but 740+ gets you the best rates and lowest fees. Most Glendale buyers we close have scores between 680-760.
First-time buyers can put down 3%. Repeat buyers typically need 5% minimum. 20% down eliminates mortgage insurance completely.
Yes, but the condo complex needs lender approval. We review HOA docs before you make an offer to avoid surprises during underwriting.
Conventional costs less monthly if you have 680+ credit and 5% down. FHA works better for scores between 580-679 despite higher insurance costs.
Depends on purchase price and debts. Most lenders cap debt-to-income at 45-50%, including your new mortgage payment.
Most conventional loans close in 21-30 days. Clean credit and complete documentation can push that to 18 days with the right lender.
Mortgage financing for independent contractors and freelancers who earn 1099 income instead of traditional W-2 wages.
Mortgage programs that allow borrowers to qualify based on liquid assets rather than traditional employment income.
Non-QM loans that use 12 to 24 months of bank statements to verify income for self-employed borrowers.
Short-term financing that bridges the gap between buying a new property and selling an existing one.
Debt Service Coverage Ratio loans that qualify investors based on a rental property's income rather than personal income.
Mortgage programs designed for non-US citizens and non-permanent residents who want to purchase property in the United States.
Asset-based short-term loans primarily used by real estate investors for property acquisition and renovation projects.
Mortgages that allow borrowers to pay only the interest for an initial period, resulting in lower monthly payments upfront.
Financing solutions tailored for real estate investors purchasing rental properties, fix-and-flip projects, or investment portfolios.
Home loans for borrowers who have an Individual Taxpayer Identification Number instead of a Social Security number.
Adjustable rate mortgages held in a lender's portfolio rather than sold on the secondary market, offering more flexible terms.
Non-QM mortgages that use a CPA-prepared profit and loss statement to verify income for self-employed borrowers.
Home loans with interest rates that adjust periodically based on market conditions after an initial fixed-rate period.
Specialized mortgage programs designed to support homeownership in underserved communities with flexible qualification criteria.
Mortgages that meet the guidelines and loan limits set by Fannie Mae and Freddie Mac for secondary market purchase.
Financing for building a new home or making major renovations, typically converting to a permanent mortgage upon completion.
Innovative loan products that leverage projected home equity growth to provide favorable financing terms.
Government-insured mortgages from the Federal Housing Administration with low down payments and flexible credit requirements.
A revolving line of credit secured by your home equity that allows you to borrow funds as needed during a draw period.
A fixed-rate second mortgage that provides a lump sum of cash by borrowing against the equity built in your home.
Mortgages that exceed the conforming loan limits set by the FHFA, designed for financing high-value luxury properties.
Loans for homeowners aged 62 and older that convert home equity into cash without requiring monthly mortgage payments.
Government-backed zero down payment mortgages for eligible rural and suburban homebuyers who meet income limits.
Government-guaranteed mortgages for eligible veterans, active-duty service members, and surviving spouses with zero down payment.