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URL:https://www.learndesk.us/class/4746122453057536/lesson/e904738d2691b195d0e0da85032f727a?ref=outlook-calendar
SUMMARY:Conventional Mortgages
DTSTART;TZID=America/Los_Angeles:20260405T190000
DTEND;TZID=America/Los_Angeles:20260405T200000
LOCATION:https://www.learndesk.us/class/4746122453057536/lesson/e904738d2691b195d0e0da85032f727a?ref=outlook-calendar
DESCRIPTION: 
Down payment and LTV
PMI

A conventional mortgage loan is a permanent long-term loan that is not FHA-insured or VA-guaranteed. Market rates usually determine the interest rate on the loan.
Down payment and LTV 
Because of the lack of insurance or guarantee by a government agency, the risk to a lender is greater for a conventional loan than for a non-conventional loan. This risk is usually reflected in higher interest rates and stricter requirements for the down payment and the borrower's income qualification.
The loan-to-value ratio (LTV) is often lower on conventional loans than on those with government backing, which means the down payment is higher. At the same time, conventional loans allow greater flexibility in fees, rates, and terms than insure and guaranteed loans.
PMI 
Because of the riskiness of conventional loans that have a down payment of less than 20% of the property value, lenders often require the borrower to obtain private mortgage insurance or PMI. Mortgage...

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