Conventional Loan
A mortgage loan not backed by a government agency. Follows Fannie Mae/Freddie Mac guidelines. Requires PMI if LTV is greater than 80%.
| Audience | Name |
|---|---|
| Engineering (code) | — |
| Design (UI label) | — |
| Borrower-facing | a standard mortgage not backed by the government |
| Do not use | — |
Sources
- Clarity Engine Glossary — Conventional
Related
Program Family, Mi Required Flag, Min Down Payment Pct, Min Credit Score
Referenced by
DU / Desktop Underwriter, Fannie Mae Selling Guide, LLPA (Loan-Level Price Adjustment), Quality Bonus