Conventional Loan
Lending & MortgagesA mortgage not insured by a government agency, typically requiring higher credit scores and down payments.
Example
Example: Suppose you take out a $300,000 30-year fixed mortgage at 6.5%. Understanding conventional loan helps you see how your monthly payment of approximately $1,896 is structured — and how this concept affects your total cost over the life of the loan. Use our mortgage calculator to see how conventional loan impacts your specific situation.