Finance
A conventional loan is best described as:
AA loan guaranteed by the Veterans Administration
BA mortgage that is not insured or guaranteed by a federal government agency✓ Correct
CA loan available only to first-time homebuyers
DA fixed-rate mortgage with a 30-year term
Explanation
A conventional loan is one that is not backed by a government agency such as FHA, VA, or USDA. Conventional loans are originated by private lenders and may or may not be conforming (meeting Fannie Mae/Freddie Mac guidelines).
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