A Conventional Mortgage is best described as a mortgage that is NOT insured or guaranteed by the government. Most Conventional Mortgages today are actually considered Conforming Mortgage. A Conforming Mortgage is a type of mortgage in which the underlying terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac. About 35-50% of mortgages, depending on market conditions and consumer trends, are conforming loans. Conforming mortgages can be fixed rate or adjustable rate mortgages.  A conforming loan typically requires a minimum of 5% down payment, and is usually best suited for a borrower with Perfect Credit and Perfect Qualifications.

Conventional Mortgage PA