A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA). It is typically fixed in its terms and rate.
These loans typically require 3%-20% down payments. In order to avoid mortgage insurance a person must put at least the full 20% down. For more information on these loan types or any other we offer, give us a call us today or apply now!