Skip to Content
Icon LockIcon Lockicon-branch-logo-marinericon-branch-logo-pccicon-branch-logo-pfcIcon BullseyeIcon Credit CardIcon HouseIcon LockIcon LockIcon Lockicon-logo-whiteMagnifying GlassMagnifying GlassMagnifying Glassicon-pfc-logo-whiteicon-pioneer-logo-whiteIcon Wheel
New Mariner Finance web experience coming soon... Through valuable customer feedback the new site will make it easier to apply for a loan, make a payment, check your offers and search for your closest branch. Click for more info...

Couple learning about conventional home loans
Are you considering a conventional home loan? Or looking to be informed about them?

If so, you’ve come to the right place.

In this Q&A I’ll go over what conventional home loans are, the various types, and a way to see if you qualify.

So, what are conventional home loans?

A conventional home loan also known as a conventional mortgage refers to a loan that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA) the Farmers Home Administration (FmHA) and the Department of Veterans Affairs (VA).

In layman’s terms, mortgages that aren’t guaranteed or not insured by these agencies are called conventional home loans.

Are there more than one type of conventional home loans?


There are few types of conventional home loans, conforming, non-conforming, jumbo loans, portfolio loans and sub-prime loans.

A conforming loan is a mortgage loan that conforms to the guidelines set by the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

These enterprises acquire mortgages from lenders and sell them to investors to help make mortgages readily obtainable.

On the flip side mortgage loans that don’t adhere to these GSEs are non-conforming, also known as “non-prime.”

Jumbo loans are non-conforming conventional loans that are larger than loan limits set by GSEs and are also known as jumbo mortgages.

And portfolio loans are loans held by mortgage lenders on their own books meaning they can set their own guidelines for these loans.

It’s important to be aware that portfolio loans can often have benefits others don’t by allowing borrowers to use things like stocks and bonds as collateral.

And last but not least, sub-prime loans.

Sub-prime loans are conventional loans designed for people that typically have low or bad credit.

These loans are regulated by special laws by the government even though they are not backed due to higher interest rates and fees.

Now that I know what a Conventional loan is how do I know if I qualify?

Qualifications can vary by lender and conventional loan type. Although if your FICO score is 580 or above you can apply today for a personal loan offer up to $25,000 toward your home.

To apply online today for an instant decision just click here now to check your offer.

Blog posts are for informational purposes only.

†We offer personal loans from $1,000 to $25,000, with loans terms from 12 to 60 months. Minimum and maximum amounts dependent on an applicant’s state of residence and the underwriting of the loan. Loans between $1,500 and $15,000 may be funded online. Loans greater than $15,000 or less than $1,500 are funded through our branch network. Specific interest rates and fees are determined as permitted under applicable state law and depend upon loan amount, term, and the applicant’s ability to meet our credit criteria, including, but not limited to, credit history, income, debt payment obligations, and other factors such as availability of collateral. Not all rates and loan amounts are available in all states. Additional fees may apply to some loan offers; some state required and/or permitted fees may be treated as prepaid finance charges. Any such charges shall be in addition to the loan amount requested and/or approved and shall be fully disclosed to the applicant on his/her loan agreement. Not all applicants will qualify for the lowest rates or larger loan amounts, which may require a first lien on a motor vehicle not more than ten years old titled in the applicant’s name with valid insurance. Our loan by phone and online closing process requires a compatible mobile or computer device on which you can access your email and electronic documents. Not all loan types are eligible for loan by phone or online loan closing.


To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. As a result, under our customer identification program, we must ask for your name, street address, mailing address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.


For any stated annual percentage rate (“APR”), the APR represents the cost of credit as a yearly rate and will be determined based upon an applicant’s credit at the time of application, subject to state law limits. A range of APR’s may be applicable, subject to state law limits and individual underwriting. Not all applicants will qualify for a lower rate. APR’s are generally higher on loans not secured by a vehicle, and the lowest rates typically apply to the most creditworthy borrowers. All terms and conditions of a loan offer, including the APR, will be disclosed during the application process. As an example, with an amount financed of $5,000.00 the borrower receives $5,000.00 at an APR of 29.99% and an interest rate of 28.77% which includes a finance charge of $3,640.96. Under these terms, the borrower would make 48 monthly payments of $180.02, for a total of payments of $8,640.96. The amount financed may not be the net proceeds paid if charges other than interest are included in the loan.


*The process uses a “soft” credit inquiry to determine whether a loan offer is available, which does not impact your credit score. If you continue with the application process online and accept a loan offer, or are referred to a branch and continue your application there, we will pull your credit report and credit score again using a “hard” credit inquiry. This “hard” credit inquiry may impact your credit score.



California Residents: Loans made or arranged pursuant to a California Financing Law license.

VA Residents – Mariner Finance of Virginia, LLC, Licensed by the Virginia State Corporation Commission, Consumer Finance Company License No. CFI-114.


Mariner Finance, LLC, NMLS No. 166564 (
8211 Town Center Drive, Nottingham, MD 21236. Telephone Number 877-310-2373.

Equal Housing Lender

Mariner Finance provides this link for your convenience and is not responsible for and makes no claims or representations regarding the content, terms of use, or privacy policies of third party websites.