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Conventional Mortgage Loans

What is a Conventional Loan?

Conventional loans are the traditional standard for mortgage lending.  These loans are governed by Fannie Mae (FNMA) and Freddie Mac (FHLMC). As the largest non-government lender in the US, they determine qualifying criteria for these loans. The main advantages for these loans, are the variety of loan terms and products available, and they typically have fewer fees than most loans.

Benefits of a Conventional Loan

  • Lower Fees
  • Provides a wide range of rate, term, and cost options.
  • Allows you to use gift funds for all or a portion of the down payment and closing costs.
  • Available for second homes and investment properties.