Conventional vs FHA, what fits you best! Terminology in the mortgage industry can get a bit squirrely and misconceptions will run amuck 😊. Let’s break down one of the biggest misconceptions as your broker begins to rattle off options of the products are out there involving your purchase or refinance. What is a conventional Loan versus FHA loan? Conventional loans are NOT government loans, they are however insured by Fannie Mae/Freddie Mac in the secondary market. Fannie and Freddie are
