A conventional mortgage is a residential mortgage loan that is not insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA). It often refers to a mortgage with a fixed term and a fixed rate.
An agency within the U.S. Department of Housing and Urban Development, founded in 1934, that administers various loan, loan guarantee, and loan insurance programs to increase housing availability.
Housing and Urban Development (HUD) is a cabinet-level U.S. government agency established in 1965 to implement federal housing and community development programs. The Federal Housing Administration (FHA) is a part of HUD.
