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| Home Purchase Loans - Home Loans - Purchase Loans What are Conventional Loans and Conforming Loans? By definition, a Conventional Home Mortgage Loan is any mortgage that is not guaranteed or insured by the federal government. A conventional loan is generally referring to a mortgage loan that follows the guidelines of government sponsored enterprises (GSE's) like Fannie Mae or Freddie Mac. Conventional house loans may be either "conforming" and "non-conforming". Conforming loans follow terms and conditions set by Fannie Mae and Freddie Mac. Nonconforming loans don't meet Fannie Mae or Freddie Mac guidelines, but they are also considered conventional. The Main Points of a Conventional Mortgage Loan
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