A conventional mortgage is a loan that is not insured or guaranteed by the government.

The maximum LTV ratio for a conventional mortgage is 80%, which means that the borrower must make a down payment of at least 20%.

The minimum credit score required for a conventional mortgage is 620.

The maximum DTI ratio for a conventional mortgage is 50%, which means that the borrower's total monthly debt payments cannot exceed 50% of their gross monthly income.

A mortgage can be used to purchase a home, refinance an existing mortgage, or obtain a home equity loan.

A fixed-rate mortgage has a constant interest rate throughout the life of the loan, while an ARM has an interest rate that can change over time.

The most common type of ARM is a 5/1 ARM, which means that the interest rate is fixed for the first five years of the loan and then adjusts every year after that.

The maximum loan amount for a conventional mortgage is $647,200 for a single-family home.

The maximum loan amount for an FHA loan is $420,680 for a single-family home.

There is no maximum loan amount for a VA loan.

The maximum loan amount for a USDA loan is $275,625 for a single-family home.

A mortgage is used to purchase a home, while a home equity loan is used to borrow against the equity in your home. A mortgage is secured by the home, while a home equity loan is unsecured.

The maximum LTV ratio for a home equity loan is 80%, which means that the borrower must have at least 20% equity in their home.

The maximum DTI ratio for a home equity loan is 50%, which means that the borrower's total monthly debt payments cannot exceed 50% of their gross monthly income.

The most common types of home equity loans are fixed-rate home equity loans and adjustable-rate home equity loans (HELOCs).