Conventional Loans

What Are Conventional Loans?

Conventional loans are the most common type of mortgage. It is the “basic” or “plain vanilla” type of loan. It’s got it’s own special products and limits/restrictions as well and there are even super low first time homebuyer programs which have a major MI reduction so it can be very beneficial. Also, sellers generally like to see this type of loan on a third party financing letter *although it is illegal to judge an offer by it’s financing type*, it can infer that one buyer has “better credit” or “more money” which is a misconception.


Sometimes wading through misconceptions is the art of a really good realtor and there isn’t a better time to ensure your agent relationship makes you the strongest buyer possible. It’s like a game of chess! These type of loans have higher county loan limits than FHA or other loan types which change annually, so be sure to check your county against this link for your county conventional loan limits; Conforming Loan Limits | Federal Housing Finance Agency (

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