Conventional Loans

Conventional loans are mortgage loans from mortgage lending institutions not backed by an agency of the government such as the U.S. Department of

Veterans Affairs or the Federal Housing Administration. Conventional loans can be either conforming or non-conforming.

Commonly know as “Fannie-Mae, FNMA loans, or Freddie-Mac, FHLMC backed loans. Individuals who apply for these loans must have good credit with a minimum score of 620, be able to document income in the same job/industry for at least 2 years, whether a W2 employee or self-employed. The higher your score, the better rate you qualify for.