A conventional loan is a type of mortgage that is not backed by the government. Instead, it is issued by private lenders such as banks and credit unions. These loans typically require a higher credit score and down payment than government-backed loans like FHA or VA loans. However, they offer more flexibility in terms of loan amounts and property types.
Conventional loans can be used to purchase primary residences, second homes, or investment properties. They also have different repayment options such as fixed-rate mortgages or adjustable-rate mortgages (ARMs). With a fixed-rate mortgage, the interest rate remains the same throughout the life of the loan while an ARM has an initial fixed period followed by periodic adjustments based on market conditions. Overall, conventional loans are a good option for borrowers with strong credit who want more control over their financing options.
Maricopa County is in the south-central part of the U.S. state of Arizona. As of the 2020 census the population was 4,420,568, or about 62% of the state's total, making it the fourth-most populous county ...
Population: 4.497 million (2021)
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