Conventional Mortgage

# A first mortgage granted by an institutional lender such as a bank or trust company, where the amount of the loan does not exceed 75% of the lending value of the property.

# A mortgage not obtained under a government insured program (such as FHA or VA).

# Usually refers to a fixed-rate, 30-year mortgage that is not insured by the FHA, Farmers Home Administration (FmHA) or Veterans Administration.

# Refers to home loans other than government loans (VA and FHA).

# A mortgage loan up to a maximum of 75% of the lending value of the property. Mortgage loan insurance is not required for this type of mortgage.

# A mortgage that is not insured or guaranteed by the federal government.

# A loan neither insured by the FHA nor guaranteed by the VA.

# A mortgage loan that is made without FHA insurance, USDA insurance, state bond insurance or VA guarantee.

# A mortgage loan not insured by HUD or guaranteed by the Veterans' Administration. It is subject to conditions established by the lending institution and state statutes. The mortgage rates may vary with different institutions and between states. (States have various interest limits.)

# A mortgage securing a loan made by investors without governmental underwriting, ie, which is not FHA insured or VA guaranteed.

# A mortgage where the loan does not exceed 75% of the value of the property.

# A mortgage that does not exceed 75% of the appraisal value or purchase price of the property, whichever is lower. Mortgage loan insurance is not required for this type of mortgage. BACK TO TOP

# A permanent, long-term loan made by institutional lenders, mortgage companies and private individuals which is not insured by the Federal Housing Administration or the Veterans Administration.

# A type of mortgage not insured by either the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).

# A mortgage that is not insured or guaranteed by a government agency.

# A mortgage that is 75% or less of the value of the property.

# A mortgage loan that is obtained without any additional guarantees for repayment, such as FHA insurance, VA guarantees, or private insurance. This is usually given at an 80% loan-to-value ratio.

# A first mortgage issued for up to 75 per cent of the property's appraised value or purchase price, whichever is lower.

# A home loan that follows a fixed rate.

# A regular loan that may be privately insured, but is not insured or guaranteed by the government.

# A home loan that follows a fixed rate. It's neither guaranteed nor insured by the Federal Housing Administration (FHA) or Department of Veterans' Affairs (VA).

# A mortgage loan that is 75 per cent or less of the loan-to-value ratio; and does not require insurance by CMHC or other private insurer.

# Common security device used to purchase a home by transferring to the bank or other financial institution a lien or legal title in return for the price or part of the price of the home.

# Most popular home financing form not insured by FHA or guaranteed by VA. Available from many lenders at varying rates, terms and conditions.

# A mortgage loan made by a financial institution without insurance or guarantee by a high-ratio default insurer (eg. CMHC or Genworth). It’s called conventional because it conforms to acceptable Loan to Value (LTV) margins, usually 75% of the value of the property.