Conventional Mortgage Loans in Colorado

A conventional loan is what most folks sign up for when taking out a mortgage. Conventional loans meet the guidelines created by either Fannie Mae or Freddie Mac. They are neither guaranteed or insured by federal government bodies like the Federal Housing Administration, the Rural Housing Service, or the Veterans Administration. If the loan is not considered a government loan, it is very likely to be a conventional loan.

Conventional loans come with several advantages over government loans. In general, you can expect a conventional loan to allow for more flexibility when it comes to your job history. They also offer many more loan products to choose from.

For instance, Conventional loan products may include fixed, adjustable, buydown options, 10 year and 20 year loans, interest only loans, and so on. On the other hand, a loan that is not insured by the government represents a greater risk to your lender, and require a higher down payment than a government loan.