Finance
A Massachusetts condominium buyer obtains a 'conventional' mortgage. 'Conventional' means the loan is:
AInsured by FHA
BGuaranteed by the VA
CNot insured or guaranteed by any government agency✓ Correct
DIssued by the state government
Explanation
A conventional mortgage is not insured or guaranteed by a government agency like FHA or VA. It is made by private lenders and may be conforming (sold to Fannie/Freddie) or non-conforming (jumbo).
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