What is a conventional mortgage?
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The big benefit of a conventional mortgage loan is that you have immediate equity in your new home. Let's explore the ins and outs of uninsured residential mortgages.
When it comes to mortgages, most people tend to be familiar with expressions like fixed and variable.
While those terms refer to the type of interest rate attached to the mortgage, namely whether it stays the same or fluctuates throughout the length of the loan term, there are actually several different types of mortgages out there.
Let’s explore conventional mortgages — what they are, what benefits they have, and how you can qualify for one.
About the author
Renee Sylvestre-Williams is a finance and business reporter. In her more than 10 years of journalism, her work has been published in the Globe and Mail, Flare, Canadian Living, Canadian Business, the Toronto Star and Forbes. She also publishes a biweekly newsletter, The Budgette, where she provides financial education for single earners.
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