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Summarize the differences between conventional loans and government loans.

Summarize the differences between conventional loans and government loans.

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Answer #1

Differences between conventional loans and government loans are as follows-

A.conventional loans does not have any government backing where as government loans will have Federal backing

B. credit score which is required for a conventional loan is relatively higher than Government loans

C. Interest rates on conventional loans tends to be higher than that of government loan

D. down payment which is required for government loans is relatively higher than conventional loans

E . Upfront mortgage payments like premium are Required by government loans whereasit is not required by conventional loans.

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