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 The Mortgage Dictionary is available to assist you with terms you may be unfamiliar with in the mortgage industry. We have provided the most commonly used terms. If you need assistance with a term or any other questions, please contact a loan officer or please send us an email and we'll be happy to assist.

Conventional Loan

Typically a minimum down payment of 5% is expected and in return for a higher down payment the rate may at times be lower than the rate on an FHA loan. The conventional maximum loan amount is $250,000 whereas the FHA loan amount is $193,000.
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