Our most popular loan, with competitive interest rates on fixed-and adjustable-rate terms. The conventional loan is ideal for borrowers with established credit and often offers a lower interest rate and Annual Percentage Rate (APR) than other types of fixed-rate loans. Conventional loans may require less documentation than FHA loans or VA loans, which could speed up the overall processing time. It's also is available for refinancing your existing mortgage, with 15- and 20-year options especially popular when refinancing.