conventional mortgage loan English

Meaning conventional mortgage loan meaning

What does conventional mortgage loan mean?

conventional mortgage loan noun

— (US, finance) A fixed- or adjustable-rate, fully amortized loan secured by a mortgage or deed of trust that is not insured or guaranteed by an agency of the federal government (such as FHA or VA). (Source: Office of Thrift Supervision [http://www.ots.treas.gov/glossary/gloss-c.html])