Conventional loans are mortgage loans offered by non-government sponsored lenders. A conventional, or conforming, mortgage adheres to the guidelines set by Fannie Mae and Freddie Mac. It may have either a fixed or adjustable rate.
While many think that a 20% down payment is required for all conventional loans, many lenders now offer low down payment options.
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*Disclaimer: The information provided by this site cannot be guaranteed in regards to your individual financial position by Crestar Mortgage Corporation. All examples are hypothetical for illustrative purposes only. For the most accurate and personalized results, we encourage you to seek advice from one of our qualified financial professionals.
