Conventional Loan definition

Conventional Loan. A Mortgage Loan that is not insured by the United States Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs.

Conventional Loan. A conventional residential first or second lien fixed or adjustable rate Securitized Loan that is neither FHA insured nor VA guaranteed.

Conventional Loan. A conventional residential first or second lien fixed or adjustable rate Securitized Loan that is neither FHA insured nor VA guaranteed. Costs: For any Person, any claims, losses, damages, penalties, fines, forfeitures, reasonable and necessary legal fees and related costs, judgments, and other costs and expenses of such Person.

Examples of Conventional Loan in a sentence

• The Buyer’s ability to purchase the Property is contingent upon the Buyer’s ability to obtain financing under the following conditions: (check one) ☐ - Conventional Loan ☐ - FHA Loan (Attach Required Addendums) ☐ - VA Loan (Attach Required Addendums) ☐ - Other: .

• Notwithstanding the above, Buyer shall not have a right to apply for a FHA, VA, or USDA loan unless the parties agree to amend this Agreement to add a FHA, VA, or USDA loan contingency exhibit meeting FHA, VA or USDA requirements, as the case may be (in which event this Conventional Loan Contingency shall no longer be part of this Agreement).

• Buyer shall promptly apply for and in good faith seek to obtain the conventional loan or loans described below (“Loan(s)”) such that Buyer can fulfill Buyer’s obligations hereunder prior to the expiration of this Conventional Loan Contingency.[Select A.

• Conventional Loan - Any mortgage loan that is not insured or guaranteed by the government such as under the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs.

• Buyer shall promptly apply for and in good faith seek to obtain the conventional loan or loans described below (“Loan(s)”) such that Buyer can fulfill Buyer’s obligations hereunder prior to the expiration of this Conventional Loan Contingency.

More Definitions of Conventional Loan

Conventional Loan means a loan or advance of credit, other than a loan or advance of credit made by a credit union or made pursuant to section 334.011, to a noncorporate borrower in an original principal amount of less than $100,000, secured by a mortgage upon real property containing one or more residential units or upon which at the time the loan is made it is intended that one or more residential units are to be constructed, and which is not insured or guaranteed by the secretary of housing and urban development, by the administrator of veterans affairs, or by the administrator of the Farmers Home Administration, and which is not made pursuant to the authority granted in subdivision 1, clause (3) or (4). The term mortgage does not include contracts for deed or installment land contracts.

Conventional Loan. Not applicable.

Conventional Loan means a Loan that is not an FHA Loan or a VA Loan.

Conventional Loan means a loan or advance of credit, other than a loan or advance

Conventional Loan means a conventional residential first lien mortgage loan which is a Mortgage Loan.

Conventional Loan means CD Rate Loans, Alternate Base Rate Loans or Eurodollar Loans made in Dollars, pursuant to Section 2.01(a).

Conventional Loan means a Mortgage Loan that (a) is not a FHA Loan or VA Loan but (b) complies with all applicable requirements for purchase under the FNMA or FHLMC standard form of conventional-mortgage-purchase contract.