Conventional Loan
Definition of "Conventional loan"
Mortgage loan not insured or guaranteed by a governmental agency such as the Federal Home Administration or the Veterans Administration. This type of loan is repayable in fixed monthly payments with a fixed rate and term (typically not exceeding 30 years), secured by real property.
Popular Real Estate Terms
Geographic location that is gradually being developed as an urban area. ...
Individual or business to which all rights (usually intangile) to property have been transferred. ...
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