Conventional & Jumbo Loans
What to Know

What are Conventional Loans?

Conventional loans are not guaranteed or insured by the U.S. Department of Veterans Affairs (VA) or Federal Housing Administration (FHA). The majority of conforming conventional loans abide by the mortgage guidelines established by the government-sponsored entities known as Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation).

Conventional mortgages with less than 20% down require private mortgage insurance (PMI). Since conventional loans are not insured by the federal government, there is no guarantee for the lender should the borrower default. These loans are considered higher risk for lenders, and generally have more restrictive underwriting guidelines.

Conforming conventional loans:

Jumbo conventional loans:

A few benefits of a conventional mortgage:

Contact Bo Smith to see if conventional loans are right for you.

team icon
About Us
Learn more about us and why we do what we do.
tools icon
Understand your options and use these helpful tools and resources.
video icon
Explore our video library to learn more about the mortgage process and how we can help you.