Conventional Mortgages are Fannie Mae and Freddie Mac mortgages, and usually require a larger down payment than the Government Insured mortgages above, but you can still bring less money to close and have Private Mortgage Insurance (PMI) added if you have less than 20% down payment. There are a slew of programs association with Fannie and Freddie conventional mortgages. They also offer renovation mortgages. These are the most common types of mortgages offered and are the main mortgages that fall under the definition of a “Qualified Mortgage”. These are the easiest mortgages to get closed because they offer automated underwriting and are the most mainstream, which means there is a lot more technology and support for them. 99% of all Mortgage companies offer these, and they are the largest percentage of our business at PS.