Conforming Loan

Conventional home mortgages, first mortgages up to loan amounts mandated by Congressional directive, which meets the qualifications for sale or delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC).

Construction Loan

A structured, short-term loan to provide funds necessary to begin construction on buildings or homes.

Conventional Mortgage

A mortgage loan made by an institutional lender without the inclusion of government guarantees such as VA or FHA loans.

Convertible ARM

The convertible ARM is a combination of both fixed-rate and adjustable rate mortgages, allowing the best of both options in one package.

Deferred Interest Mortgage

A mortgage in which the payment is not sufficient to cover the principal and the interest and the payment portion of the interest is postponed until a certain date at which time the interest postponed is added to the principle owing.