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CONVENTIONAL HOME LOANS
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A conventional mortgage or conventional loan is a home buyer’s loan that is not offered or secured by a government entity.
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It is available through or guaranteed by a private lender or the two government-sponsored enterprises—Fannie Mae and Freddie Mac.
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Potential borrowers need to complete an official mortgage application, supply required documents, credit history, and current credit score.
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Conventional loan interest rates tend to be higher than those of government-backed mortgages, such as FHA loans.
Information provided by Investopedia - https://www.investopedia.com/terms/c/conventionalmortgage.asp
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