4000 MacArthur Blvd. Ste 800
Newport Beach CA 92660
MVP Lending has outstanding Conventional Loan packages for home buyers and existing home owners. Let our knowldegeable mortgage advisors help you decide which loan type is right for you.
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The traditional 30-year fixed-rate mortgage has a constant interest rate and monthly payments that never change. This may be a good choice if you plan to stay in your home for seven years or longer. If you plan to move within seven years, then adjustable-rate loans are usually cheaper.
This loan is fully amortized over a 15-year period and features constant monthly payments. It offers all the advantages of the 30-year loan, plus a lower interest rate and you’ll own your home twice as fast. The disadvantage is that, with a 15-year loan, you commit to a higher monthly payment.
A jumbo loan is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. As of 2021, the limit is $548,250 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $822,373. Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk.
4000 MacArthur Blvd. Ste 800
Newport Beach CA 92660
714.602.1334
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