CONVENTIONAL LOANS AT A GLANCE:

  • Offered through Fannie Mae and Freddie Mac
  • Higher loan amounts are available
  • Mortgage insurance premiums apply until loan-to-value reaches 80%
  • Can be used to finance homes aside from a primary residence, such as an investment property or vacation home
  • Offers both fixed and adjustable rates
  • Require a minimum down payment of 5%
  • Typically has more stringent credit terms than an FHA loan