Conventional Loans
Conventional loans are the most common choice for home financing. They are often associated with “conforming” loans – loans backed by the government-sponsored entities Fannie Mae and Freddie Mac – through private bank loans are also included in this category. Conventional loans exclude loans that are supported by governmental agencies such as the Federal Housing Administration (FHA), the US Department of Veterans Affairs (VA), or the US Department of Agriculture (USDA) and publish their own set of guidelines for financing qualification.