Conventional Loan

Business / Real Estate / Conventional Loan: A loan made with real estate as security and not involving government participation in the form of insuring (FHA) or guaranteeing (VA) the loan. The mortgagee can be an institutional lender or a private party. The loan is conventional in the sense that it conforms to accepted standards and the lender looks solely to the credit of the borrower and the security of the property to ensure payment of the debt. Conventional loans include those loans insured by private mortgage insurance companies.

Other Words for Conventional

Conventional Noun Synonyms: customary, habitual,ual, normal, regular, standard, orthodox, traditional, established, ordinary, everyday, common, commonplace, accustomed, received, agreed, reactionary, old-fashioned, stodgy, stuffy, old hat
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Other Words for Loan

Loan Verb Synonyms: advance, allowance, credit, accommodation
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Nonrecourse Loans

Business / Agriculture / Nonrecourse Loans: Farmers or processors participating in government commodity programs may pledge certain stored commodities as collateral and obtain a loan from the CCC at a commodity-specific, per-unit loan rate. The MORE

Open-End Loan

Business / Loan / Open-End Loan: A loan that permits the borrower to draw money from time to time up to a credit limit. A home equity line of credit (HELOC) is an open-end loan secured by a home. MORE

Package Loan

Business / Real Estate / Package Loan: A real estate loan used to finance the purchase of both real property and personal property, such as in the purchase of a new home that includes carpeting, window coverings and major appliances. MORE

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