Most popular home mortgage
Conventional loans are the most commonly-used loan for home purchases and for refinances. They offer flexible financing for a new primary residence, vacation home or investment property, and their underlying terms and conditions meet the funding criteria for the government entities Fannie Mae and Freddie Mac. Approximately 35-50 percent of all mortgages are conventional mortgages, with some variation in the percentage due to market conditions and consumer trends. The most favorable pricing (lowest interest rate) for a conventional mortgage requires an excellent credit rating.