WHAT ARE CONVENTIONAL LOANS? Conventional mortgages are homebuyer loans not provided or guaranteed by the government. Banks and credit unions offer conventional mortgages. Conventional loans are non-government-backed mortgages. Traditional loans include both conforming and non-conforming loans. Conventional conforming mortgages are governed by Fannie Mae and Freddie Mac (Freddie Mac). Some lenders may allow for non-conforming…
