Conventional Loan

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What is a Conventional Loan?

A conventional loan is one where the lender assumes all the risk on the loan as compared to a government-backed loan where a lender guarantee is provided. A conventional loan is the most common loan type in today’s marketplace and every mortgage company offers a conventional mortgage.

Key benefits of a Conventional Loan

More competition for a conventional loan provides for a more competitive rate

Conventional loans aren't limited by borrower type, location or loan amount

Conventional loans are offered in both fixed and adjustable rate loans

Frequently Asked Questions

  • What are the rates to finance a rental property?
  • In general, rates for a rental property will be anywhere from 0.25% to 0.50% higher compared to a rate for a primary residence. Check with your Majestic loan officer for rate updates.

  • What is the difference between a Fannie Mae and Freddie Mac loan?
  • Very little, actually. They both provide lender guidelines for the same property types but there are some minor differences, especially as it relates to investment properties.

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