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?
- What is the difference between a Fannie Mae and Freddie Mac loan?
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.
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.
the right loan for you.
online or with our loan specialist.
and carefully with our steamline process.