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Phrases with «conventional loan»

A conventional loan is a type of mortgage loan that is not guaranteed or insured by the government. It is a loan that is offered by private lenders such as banks or credit unions. The borrower usually needs a good credit score and a stable income to be eligible for a conventional loan. Full definition

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Sentences with «conventional loan»

  • It's normally 25 % of the purchase price vs 5 % or so for conventional loan for your primary. (biggerpockets.com)
  • Lenders consider mortgages to be riskier if the borrower's down payment is smaller, with conventional loans requiring at least 20 % down to avoid the added monthly expense of private mortgage insurance. (valuepenguin.com)
  • Mortgage insurance is required on conventional loans for down payments under 20 %. (centralcoastlending.com)
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