Conventional Loans
What Is A Conventional Mortgage Loan?

A conventional mortgage loan is not directly insured by a government program. Most conventional loans are also “conforming” loans, which simply means that they meet the requirements for Fannie Mae or Freddie Mac. Both are government-sponsored enterprises that purchase mortgages from lenders and sell them to investors. This frees up lenders’ funds so they can get more qualified buyers into homes.

Conventional mortgages are available with several different term options with most people choosing between 15-year and 30-years. 

Because there are several different sets of guidelines that fall under the umbrella of “conventional loans,” there’s no single set of requirements for borrowers.   Please call us to discuss the requirements.

What type of conventional loans exist?


A fixed-rate loan is a type of loan where the interest rate remains unchanged for the entire term of the loan or for a part of the loan term


Adjustable-rate mortgages (ARMs), also known as variable-rate mortgages, have an interest rate that may change periodically depending on changes in a corresponding financial index that's associated with the loan