What’s the Difference Between a Conforming and a Conventional Mortgage?
When you are shopping for mortgages, you may come across the term “conforming loan.” Is that something different than a conventional loan? Does this matter to you as a borrower? Here’s a quick explanation of conforming loans. Fannie Mae and Freddie Mac Although all conforming loans are conventional loans, not all conventional loans are conforming. […]
Choosing the Best Mortgage for You
Shopping for a home also means shopping for a mortgage. If this is all new to you, the multitude of mortgage types might be confusing. Here’s what you need to know. Fixed-rate mortgage. The fixed-rate mortgage is the most traditional way to finance a home. Typically available in fifteen- and thirty-year terms, the loan’s interest […]