A conventional mortgage is a non-government loan that meets requirements set by the Federal Housing Finance Agency (FHFA) and meets the funding criteria of Freddie Mac and Fannie Mae. Conventional loans offer low-interest rates to borrowers with excellent credit scores.

Competitive rates and countless options

Homebuyers seeking a conventional loan typically enjoy the largest selection of loan options at the most competitive rates. Since risks and guidelines are well-defined, conventional loans are popular with both mortgage lenders and homebuyers. Most lenders will offer several Fannie Mae and Freddie Mac programs tailored to different homebuyer situations, which means you can shop for the most competitive rates and terms to maximize how much you can get from a conventional loan.