Conventional loans are the most common type of loan in the mortgage industry. These are not guaranteed or ensured by a government entity like FHA Loans are. Read below to see if a conventional loan is right for you.
Conventional loans are typically a great option if you have a higher credit score with low debt. Interest rates are generally lower on conventional loans than FHA. They have down payment options as little as 3% and if you have 20% for a down payment, you can avoid mortgage insurance.