CONVENTIONAL LOAN
A conventional loan is a mortgage loan not backed up or guaranteed by the government. This might be the loan for you if you're looking a loan with a fix interest rate and are expecting to settle down in one house for a long period of time. A few benefits to a conventional loan is:
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Low-interest rate
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Fast loan processing
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Diverse down payments that can begin as low as 3% of the home's sale price
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Lower PMI rates than FHA