Conventional Loans

A conventional mortgage is a home loan that isn’t backed by a government agency, such as the FHA or VA. Conventional mortgages often conform to the loan limits set by the Federal Housing Finance Administration (FHFA).

Borrowers considering a conventional mortgage, who have an 80% or under loan-to-value ratio, do not have to pay for mortgage insurance, which is typically required with lower down payments or government-backed loans.