Conventional Loans

What is a Conventional Loan?

A conventional mortgage is any loan that is not part of a government program compared to government-program loans including Federal Housing Administration (FHA)U.S. Department of Veteran Affairs (VA) and U.S. Department of Agriculture (USDA). Conventional mortgages are broken into two categories:


Conforming loans

Conforming loans have maximum loan amounts that are set by the government.

Non-conforming loans

Non-conforming loans are less standardized. Eligibility, pricing, and features can vary widely by lender, so it’s particularly important to shop around and compare several offers.

Both types of loans typically have a slightly higher down payment than government loans; however, this loan option normally provides more flexibility with fewer restrictions.


Things to know about this type of loan:

  • Fastest closing times

  • Less documentation required

  • Slightly higher credit required


If you are interested in a conventional loan, please contact one of our experts.

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