A conventional mortgage is a typical mortgage most homeowners choose when refinancing or purchasing a new home. It includes a fixed-rate plan, which helps protect against rising monthly payments, and is available in a 15-year or 30-year option.

BENEFITS OF A CONVENTIONAL MORTGAGE

• Great for any type of property
• Variety of term lengths available
• Require less paperwork than other loans
• Fixed rate is locked in for the life of the loan
• Can pay taxes and insurance separately from mortgage