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What is a conventional loan?

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  • Anonymous
    1 decade ago
    Favorite Answer

    This is the best loan you can get when purchasing a home. You will need a very good credit score to get one and a 20% downpayment. It is locked at an interest rate not like the new mortgage loans which are very creative.

  • 1 decade ago

    It's the opposite of a Jumbo loan, which is what millionaires use to finance their million dollar properties.

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