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In the United States a conventional loan is a loan that is not made by or insured by a government entity. Therefore, if this is the type of loan you require, you need to look into non-government lenders that are also non-government insured. Gain some good advice and knowledge from an independent financial planner to find out if this is right for you and explore your options.
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What is the difference in Conventional loan verses credit card loan?
The primary difference between a conventional loan and a credit card loan is that a conventional loan is given to you in one lump sum whereas a "credit card loan" or line of credit can be drawn down as needed rather than in one lump sum. You can find out more about business lines of credit by visiting www.businessloc.com
How do you convert a conventional loan to an FHA loan?
One cannot directly convert a loan from one type to another. Rather, one must complete a refinance (in this case, without cash out) to move from a conventional loan to an FHA loan.
What is conventional loan without PMI ARM?
what is a conventional loan with out p m i
Can you get two conventional loans instead of one jumbo loan?
No.
What is the difference between a fixed loan and a conventional loan?
A conventional loan is a loan that is not insured by the FHA, VA or USDA. Some are ARM's and some are fixed. You can get a fixed rate conventional, FHA, VA or USDA loan.
What makes a conventional loan different from other kinds of loan?
The difference between a conventional loan and other types of loans is that it's not made by the government. A conventional loan is not insured by the government either.
What is conventional financing?
Conventional financing is any loan made by a lender that is not government guaranteed....such as a FHA or VA loan.
How is a jumbo loan different from a conventional one?
A jumbo loan is set at a higher dollar amount than a conventional loan. The standard is set by Fannie Mae and Freddie Mac. When limits do not cover the full loan amount, it is considered a "jumbo loan". Some say to avoid them, some say to take advantage of them.
Is usda a conventional loan?
yes.
I'm upside down on my current home loan. I need to refiance because I'm struggling making my monthly pmts. Can I refiance my conventional home loan with VA refiancing I have a VA loan certificate?
You can contact the VA to discuss this issue, it is very difficult to find an answer online. (877) 487-2838 Yes, you can refinance a conventional loan to a va as long as the new loan does not exceed the value of the home. Not all lenders will do it though. One website you can go and find a lender that will is freevaloan. Also, all Free VA Loan lenders guarantee not to charge any fees for the service too.
Can you change your loan from a hard money loan back to a convetional loan?
refinance the hard money loan back to a conventional bank loan
What is a conventional ARM loan?
I believe it stands for A djustable R ate Mortgage loan.
