Conventional

What is a Conventional loan?

Conventional loans are any type of creditor agreements that are not financed by the Veterans Administration (VA), or supported by the Federal Housing Administration (FHA). In general, all conventional loans are protected by the government sponsored entities such as Fannie Mae (FNMA) and Freddie Mac (FHLMC).

There are two different types of conventional loans- conforming and non-conforming loans. Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. Any loan which does not meet guidelines is a non-conforming loan.

Advantages

Conventional loans are any type of creditor agreements that are not financed by the Veterans Administration (VA), or supported by the Federal Housing Administration (FHA). In general, all conventional loans are protected by the government sponsored entities such as Fannie Mae (FNMA) and Freddie Mac (FHLMC).

There are two different types of conventional loans- conforming and non-conforming loans. Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. Any loan which does not meet guidelines is a non-conforming loan.

Considerations

Conventional loans are any type of creditor agreements that are not financed by the Veterans Administration (VA), or supported by the Federal Housing Administration (FHA). In general, all conventional loans are protected by the government sponsored entities such as Fannie Mae (FNMA) and Freddie Mac (FHLMC).

There are two different types of conventional loans- conforming and non-conforming loans. Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. Any loan which does not meet guidelines is a non-conforming loan.

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