Traditional Loans

Conventional Loans

A Conventional loan is any type of creditor agreement that isn’t financed through the Veterans Administration (VA) or the Federal Housing Administration (FHA). All Conventional loans are generally guaranteed by government-sponsored entities (GSEs)Freddie Mac (FHLMC) and Fannie Mae (FNMA).

The two different types of Conventional loans are conforming and non-conforming. Conforming loans are required to meet the guidelines set by Freddie Mac and Fannie Mae. All other loans that do not meet these guidelines are considered non-conforming.

  • Lower Fees: The fees associated with a Conventional loan are usually lower than other loan products. This is because the lender sets the rate.
  • Interest Rate: Lenders use credit scores to determine what interest rate to offer. A person with a high credit score can typically get a lower rate.

Jumbo Loans

For a loan to be considered Jumbo, the amount borrowed exceeds the limit set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Any loan amount over $647,200 would fall into the Jumbo loan category.


  • Borrowers can finance a home that is over the limit established by Fannie Mae and Freddie Mac.
  • Enables borrowers to purchase “more house.”
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NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 ( 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Texas Consumers Only. Texas- SML Mortgage Banker Registration Residential Mortgage Loan Originator.