When you’re considering how to fund your home purchase, the sheer number of mortgage types and loan options can make your head spin. It’s tempting to head straight for the loan option with the lowest rate, but it’s worth pausing to consider your options in detail, starting with a conventional loan. Conventional loans involve any type of mortgage not backed by a government agency. They’re designed to be accessible for most homebuyers but often have stricter down payment and credit requirements than government-backed loans.
