Conventional Loans

Any type of creditor agreement that isn’t guaranteed by a government-backed program, like FHA, VA, or USDA would be considered a Conventional loan. They are backed by government-sponsored entities Fannie Mae (FNMA) and Freddie Mac (FHLMC).

There are two different types of Conventional loans: conforming and non-conforming. A conforming loan is backed by government-sponsored entities Fannie Mae (FNMA) and Freddie Mac.

Any loan that does not meet these criteria is a non-conforming loan. 


  • Lower Fees: conventional loan fees are frequently lower compared to other loan products because the rate is set by the lender. 
  • Interest Rate: A lender determines the interest rates to offer borrowers based on their credit score. A person with a great credit score is more likely to get a lower rate. 
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