• Conventional loans are considered the “Standard” type of loan option and the most popular for clients

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• The length of term can be anywhere from 8-30 years

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• 15 and 30 year terms are the most common

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• The loan can be fixed or adjustable

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• Conventional loans can be used for primary, 2nd homes or investment properties

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• This is the best option for clients looking to put at least 3% down for purchasing or who already have equity in their home for refinancing

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• Monthly Private Mortgage Insurance, also known as (PMI) is typically required until you get 20% equity in your home for conventional loans

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• Standard qualifications are required for these loans