A conventional mortgage refers to any loan that is not insured or guaranteed by the federal government. This is different from a conforming mortgage, which adheres to the guidelines set by Fannie Mae and Freddie Mac.

Conventional mortgage loans can be fixed mortgages or adjustable-rate mortgages, including hybrid ARMs. Conventional mortgages typically have a slightly higher down payment than government loans. However, conventional mortgages normally provide more flexibility and lower interest rates for buyers with good credit and the ability to afford a slightly higher down payment.

I would love to talk with you to see if you qualify for this type of loan for your home purchase. Call me today to set up an appointment.