Conventional Loans

A conventional mortgage refers to a loan that is not insured or guaranteed by the federal government. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.

Conventional loans may be cheaper overall but require good credit. Mortgage insurance may also be required with conventional loans if a down payment is below 20%.

Contact your loan officer for a private consultation and compare loan programs when shopping for the right mortgage solution