Conventional Loan

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.

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Most conventional loans require 20 percent down and a 15 or 30 year term. For a commercial loan the terms usually will involve an adjustable rate mortgage.



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