Conventional Loan definition

Conventional Loan. A Mortgage Loan that is not insured by the United States Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs.

Conventional Loan. A conventional residential first or second lien fixed or adjustable rate Securitized Loan that is neither FHA insured nor VA guaranteed.

Conventional Loan. A conventional residential first or second lien fixed or adjustable rate Securitized Loan that is neither FHA insured nor VA guaranteed. Costs: For any Person, any claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments, and other costs and expenses of such Person.

Examples of Conventional Loan in a sentence

• Currently, we have two Homebuyer Loan Programs; the Florida First Government Loan Program (Government Loan Program) and the Florida HFA Preferred Conventional Loan Program (HFA Preferred).

• Average 30 Year Conventional Loan Rate shall mean the current average 30 year mortgage rate as published by Freddie Mac (Federal Home Loan Mortgage Corporation).

• The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other: .

• We also offer a 3% grant program as part of the HFA Preferred PLUS Conventional Loan Program.

• Notwithstanding the above, Buyer shall not have a right to apply for a FHA, VA, or USDA loan unless the parties agree to amend this Agreement to add a FHA, VA, or USDA loan contingency exhibit meeting FHA, VA or USDA requirements, as the case may be (in which event this Conventional Loan Contingency shall no longer be part of this Agreement).

More Definitions of Conventional Loan

Conventional Loan. A Mortgage Loan that is not insured by the United States Federal Housing Administration or guaranteed by the United States Veterans Administration. Converted Mortgage Loan: None.

Conventional Loan. Not applicable.

Conventional Loan means a conventional residential first lien mortgage loan which is a Mortgage Loan.

Conventional Loan means a loan or advance of credit, other than a loan or advance of credit made by a credit union or made pursuant to section 334.011, to a noncorporate borrower in an original principal amount of less than $100,000, secured by a mortgage upon real property containing one or more residential units or upon which at the time the loan is made it is intended that one or more residential units are to be constructed, and which is not insured or guaranteed by the secretary of housing and urban development, by the administrator of veterans affairs, or by the administrator of the Farmers Home Administration, and which is not made pursuant to the authority granted in subdivision 1, clause (3) or (4). The term mortgage does not include contracts for deed or installment land contracts.

Conventional Loan means a Mortgage Loan that (a) is not a FHA Loan or VA Loan but (b) complies with all applicable requirements for purchase under the FNMA or FHLMC standard form of conventional-mortgage-purchase contract.

Conventional Loan means a Mortgage Loan (excluding FHA Loans and VA Loans) reasonably satisfactory to the Bank, which conforms to the eligibility requirements established by an Investor pursuant to the requirements of a Take- out Commitment acceptable to Bank.

Conventional Loan means CD Rate Loans, Alternate Base Rate Loans or Eurodollar Loans made in Dollars, pursuant to Section 2.01(a).