Finance
A conventional loan is best described as a mortgage that:
AIs insured by the FHA
BIs guaranteed by the VA
CIs not insured or guaranteed by any government agency✓ Correct
DHas a fixed interest rate only
Explanation
A conventional loan is a mortgage not insured or guaranteed by a government agency (FHA, VA, or USDA). It is funded by private lenders and may or may not conform to Fannie Mae/Freddie Mac guidelines.
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