Conventional Loan

Conventional Loan

A conventional loan is any mortgage loan that is not insured or guaranteed by the government (such as under Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs). Learn more about conventional loans and other loan types (https://www.consumerfinance.go v/owning-a-home/loan-options/conventional-loans/). Co-signer or co-borrower mortgage loan with you. This person is obligated to pay any missed payments and even the full amount of the loan if you don’t pay. Some mortgage programs distinguish a co-signer as home. Having a co-signer or co-borrower on your mortgage loan gives your lender additional assurance that the loan will be repaid.