Conventional Loans

Conventional loans are any type of creditor agreement that are not financed by the Veterans Administration (VA) or supported by the Federal Housing Administration (FHA). In general, all conventional loans are protected by the government sponsored entities such as Fannie Mae (FNMA) and Freddie Mac (FHLMC).

conventional loans
conventional loans

There are different types of conventional loans that have their own peculiarities. Conforming and nonconforming types of conventional loans are the most common kind of subdivision. Conforming loans must meet the guidelines set by Fannie Mae and Freddie Mac. One key feature is that the loan amount cannot exceed the maximum loan limit set by Fannie and Freddie.

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