Looking for a straightforward, competitive mortgage solution? Kristy Gannon at Ownity Mortgage helps clients across California secure Conventional Home Loans with low rates, flexible terms, and options that suit a wide range of financial situations. With over 20 years of experience, Kristy is here to guide you through every step of the loan process.
Conventional Home Loans are mortgage loans that are not insured or guaranteed by a government agency, such as FHA, VA, or USDA. Instead, they are backed by private lenders and typically conform to the loan limits and guidelines set by Fannie Mae and Freddie Mac. These loans are ideal for borrowers with solid credit, steady income, and a good financial profile. Kristy Gannon helps homebuyers and homeowners across California secure the best conventional loan options for purchases or refinances.
If you have a strong credit history, stable income, and are looking for a loan with low monthly payments and competitive interest rates, a Conventional Home Loan may be the right fit. These loans are popular with both first-time buyers and repeat homeowners who want flexibility in down payments, terms, and loan structure. Kristy Gannon works closely with buyers throughout California to match them with the right conventional loan based on their goals and qualifications.
Conventional loans follow standard underwriting guidelines and offer various term lengths, typically with fixed or adjustable interest rates. Borrowers may be required to pay private mortgage insurance (PMI) if the down payment is less than 20%, but that can often be removed once sufficient equity is built. Kristy Gannon walks you through the application, approval, and closing process with clear steps and personalized advice to keep things simple.
There are two main categories: conforming loans, which meet Fannie Mae and Freddie Mac guidelines, and non-conforming conventional loans, which exceed those limits. You can choose from fixed-rate or adjustable-rate loans, and the terms can often be customized to match your budget and homeownership plans. Kristy Gannon will help structure the right Conventional Home Loan for your financial profile.
Conventional loans offer competitive rates, a variety of loan term options, and flexibility in how you structure your mortgage. For qualifying buyers, they may come with no upfront mortgage insurance, and the ability to remove PMI over time can lead to long-term savings. With Kristy’s help, you can take advantage of the stability and predictability that conventional financing offers while tailoring the loan to your future goals.
If you have a solid credit score, a stable income, and enough savings for a down payment, a Conventional Home Loan could be the most cost-effective and straightforward financing solution. Whether you’re buying a home or refinancing an existing mortgage, Kristy Gannon will help you determine if a conventional loan is the right fit for your lifestyle and long-term plans.
With more than 20 years of experience, Kristy Gannon has helped countless clients throughout California secure Conventional Home Loans with ease. She understands how to find the best loan terms, guide you through pre-approval, and ensure a smooth path to closing. At Ownity Mortgage, Kristy delivers clear advice, personalized service, and a strong commitment to helping you make confident, informed decisions.
From first-time buyers to experienced homeowners, Kristy Gannon makes conventional lending simple, clear, and perfectly aligned with your goals.
A conventional home loan is a mortgage that is not backed by a government agency such as the FHA, VA, or USDA. These loans are funded by private lenders and typically conform to guidelines set by Fannie Mae and Freddie Mac. Borrowers must meet specific credit, income, and down payment requirements to qualify. Conventional loans offer flexible loan terms and can be used for primary residences, second homes, and investment properties.
Conventional loans provide competitive interest rates, flexible loan terms, and lower overall borrowing costs for qualified borrowers. They do not require upfront mortgage insurance if a borrower puts down at least 20 percent. Compared to government-backed loans, conventional mortgages have fewer restrictions on property types and loan limits, making them a preferred choice for many homebuyers.
Most lenders require a minimum credit score of 620 to qualify for a conventional loan. However, borrowers with higher credit scores typically receive better interest rates and loan terms. A score of 740 or above can result in significantly lower interest rates and reduced private mortgage insurance (PMI) costs.
Private mortgage insurance (PMI) is required for conventional loans when the down payment is less than 20 percent. PMI protects the lender in case of borrower default. However, once the borrower reaches 20 percent equity in the home, PMI can be removed, reducing monthly mortgage costs.
No, conventional loans are available to both first-time and repeat homebuyers. Unlike some government-backed programs that are designed for specific borrower categories, conventional loans offer financing options for primary residences, vacation homes, and investment properties.
Conventional home loans come in various forms, including conforming loans that follow Fannie Mae and Freddie Mac guidelines and non-conforming loans, such as jumbo loans, which exceed standard loan limits. Fixed-rate and adjustable-rate mortgage (ARM) options are also available, allowing borrowers to choose a loan structure that best fits their financial goals.
Conventional loans generally require higher credit scores but offer more flexibility with property types and loan amounts. FHA loans have lower credit score requirements and smaller down payment options, making them ideal for first-time buyers with limited credit history. However, FHA loans require mortgage insurance for the life of the loan, whereas PMI on a conventional loan can be removed once the borrower reaches 20 percent equity.
Yes, conventional loans are one of the best options for financing investment properties. Unlike government-backed loans, which typically require the property to be a primary residence, conventional loans allow borrowers to purchase rental properties and vacation homes. Lenders may require a larger down payment and higher credit score for investment properties compared to primary residences.
Unlike some government-backed mortgage programs, conventional loans do not have income limits. However, lenders evaluate a borrower’s debt-to-income (DTI) ratio to determine eligibility. A DTI ratio of 43 percent or lower is preferred, although some lenders may accept higher ratios with compensating factors such as strong credit history or significant cash reserves.
The approval process for a conventional loan typically takes 30 to 45 days, depending on lender requirements and borrower documentation. Factors such as credit history, employment verification, and home appraisal can affect the timeline. Pre-approval before house hunting can speed up the mortgage process.
Conventional loan limits are set annually by the Federal Housing Finance Agency (FHFA) and vary by location. In 2024, the standard conforming loan limit is $766,550 for most areas, while high-cost areas may have limits up to $1,149,825. Borrowers needing financing beyond these limits may consider jumbo loans, which have different qualification criteria.
Yes, conventional loans can be refinanced to secure a lower interest rate, change loan terms, or access home equity. Borrowers with a significant amount of home equity may qualify for a cash-out refinance, which allows them to take out a larger loan and receive the difference as cash. Refinancing can also be used to eliminate PMI once sufficient home equity has been built.
If you don’t qualify for a conventional loan, alternative mortgage programs such as FHA, VA, or USDA loans may be options. Borrowers can also work on improving their credit score, reducing debt, or increasing their down payment to meet conventional loan requirements in the future. Consulting with a mortgage specialist can help identify the best loan option for your situation.
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7606 Meany Ave. Suite 103 Bakersfield, California 93308
DRE #01771805
NMLS #245918
Arbor NMLS #236669
Arbor DRE #01845041
