Old-fashioned financing
Traditional financing, also called compliant funds, try mortgage loans one conform to the standards and you can guidelines place by authorities-paid organizations like Federal national mortgage association and you can Freddie Mac computer. He could be limited to a maximum amount borrowed of $726,200 (or as high as $step one,089,300 in a few highest-rates locations). Guild Financial also offers 15-year and 31-12 months repaired-speed conventional money that have down-payment choices regarding 5% in order to 20%.
In addition it now offers old-fashioned varying-rate mortgages which have repaired attacks of five, 7 or ten years. Guild’s old-fashioned financing offerings become HomeReady mortgages – which are offered to somebody and you can family which have lower-to-average income – and up to 97% investment to possess basic-time homebuyers.
Jumbo finance
Jumbo money are mortgages one to go beyond the mortgage limit set of the Fannie mae and you will Freddie Mac computer. Guild Financial has the benefit of jumbo financing that may increase so you can $step 3 billion, based on condition limits. These funds should be repaired-speed otherwise varying-speed, and want a credit rating out-of 700 and you can good credit record. Read more…