Conventional Loans in Minnesota

Conventional loans are any type of creditor agreement not financed by the Veterans Affairs (VA) or Federal Housing Association (FHA). A Conventional loan is always protected by government-sponsored entities such as Fannie Mae (FNMA) and Freddie Mac (FHLMC).

There are two distinct types of Conventional loans – conforming and non-conforming. Conforming loans are required to meet guidelines set by Fannie Mae and Freddie Mac. All other loans that do not meet these requirements are non-conforming loans.


  • Lower Fees: Since rates are set by the lender, fees associated with Conventional loans can often be lower in comparison to other loan products.
  • Interest Rates: Lenders look at borrowers’ creditworthiness when determining rates to offer. A person is more likely to secure a lower rate if their credit score is solid.

Note: For down payments that are less than 20%, Private Mortgage Insurance (PMI) is required.

Contact One Of Our Helpful Mortgage Lenders Today!
Licensed In all States
Just fill out the quick form below and we’ll take it from there.

Contact Us

  • This field is for validation purposes and should be left unchanged.
By submitting this form I am agreeing to be contacted by a representative of Supreme Lending.*