Looking for a home is a big decision and one that usually comes with a good amount of stress. You have to figure out an entirely new set of finances and figure out what kind of mortgage or loan is going to work the best for you. Many homeowners will seek professional advice, but almost 60% wish that they had a better understanding of the terms and specific details of their mortgage. Even if you seek professional help, they may not be able to break down every single bit of the mortgage, and if you seek refinancing or different payment plans, having that intimate knowledge could be important. If you’re thinking about buying a home, you should know the general types of mortgages — a conventional mortgage versus a government-backed mortgage like VA home loans.
What Is a Conventional Mor