Of all the mortgage options out there, the conventional loan is the most popular. But unlike some popularity contests, there are solid reasons most buyers opt for this type of home loan.

You can use a jumbo loan to purchase a house that is too expensive to finance with a conventional mortgage loan. You will likely need a jumbo loan if you’re buying either a high-priced home or ...

Once you've decided between a conventional and government-backed loan, you have another decision to make. Do you want a fixed-rate mortgage or an adjustable-rate mortgage? A fixed-rate mortgage ...

Each lending institution has its own set of requirements for issuing conventional mortgage loans, but the requirements typically include the same aspects. These include credit score, debt-to ...

However, for conventional loans purchased by Fannie Mae and Freddie Mac, penalty pricing does come into play, both for the loan itself and for any mortgage insurance associated with it.

A reverse mortgage allows homeowners 62 and older to borrow money using their home as collateral, much like a conventional mortgage. Instead of increasing your equity over time with every payment ...

Shorter repayment term: “The loans must often be repaid within 20 years — versus 30 with a conventional mortgage,” Frey says. Some chattel loans have even shorter terms, like five or 10 years.

Another factor in what rate you end up with is your down payment. The minimum down payment for a conventional mortgage is 3%. But if you can put down more, you'll likely get a better rate.

A DTI of 35% or less is ideal, according to Experian, although lenders typically will consider a ratio up to 43% for refinancing a conventional mortgage, depending on how strong the rest of their ...

To start, here's what an $800,000 mortgage would cost at today's average rates, assuming the conventional 20% down payment ($160,000) for principal and interest only: 15-year mortgage at 5.78% ...

You can use an online mortgage calculator to get a better idea ... Some lenders will allow you to put down as little as 3% for a conventional loan, which would be $4,500 in this case.

A conventional loan is simply a mortgage that isn’t backed by the U.S. government. If you qualify, you can get this loan from many different types of mortgage lenders, including banks ...