When you apply for a mortgage, there’s a lot to learn. I’m here to help you make sense of it all. A conventional loan is another name for a standard mortgage issued by a bank.
A conventional mortgage isn’t insured by the federal government. Agencies that guarantee home loans include the Federal Housing Administration (FHA), the U.S. Department of Veteran Affairs (VA) or the U.S. Department of Agriculture (USDA).
Conventional loans offer fewer restrictions and more flexible terms than those backed by the government. However, without government guarantees, buyers don’t get a break on their down payment. For those who have solid credit, the ability to put money down and a reliable income, a conventional mortgage has these advantages:
Contact me for more information about conventional loans.