A Primer On How Conventional Loans Work
Learn the different types of conventional loans , their similarities, and where you can find information about them. Types of Loans There are a few different types of loans that you may be asked to qualify for. A loan can be classified as a conventional loan or a non-conventional loan. Conventional loans are those that are offered by banks and other lending institutions. They are the most common type of loan and have historically been the safest option for borrowers. Non-conventional loans, on the other hand, are those that are not offered by traditional lenders. These loans can come from private investors, such as venture capitalists, or from organizations like the federal government. They may be more risky for borrowers, but they can also offer more flexible terms and options. Conventional loans typically have lower interest rates than non-conventional loans, but they also come with stricter eligibility requirements. Conventional loans typically require a good credit history and an e...