Sentences with phrase «condition of a conventional mortgage»
Private mortgage insurance (PMI) is a type of mortgage insurance a borrower might be required to buy as a condition of a conventional mortgage loan.
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So when a lender advertises a 30 - year conventional mortgage at 6 percent, there are conditions attached, and the condition of your FICO score is one of them.
As with any conventional home mortgage loan, there are fees that vary depending on the value of the home, loan terms, market conditions and interest rates.