Conventional

Conventional Loans, also known as Fannie Mae and Freddie Mac loans, will often present a borrower with their lowest payment and cost option IF the borrower has a 20% down payment or equity stake and a high credit score of 720 or above. If the borrower has less than 20% equity and a lower credit score, pricing adjustments by Fannie/Freddie often make other programs such FHA, VA or USDA worth a look.