{"id":2803,"date":"2024-06-07T12:47:28","date_gmt":"2024-06-07T12:47:28","guid":{"rendered":"https:\/\/englishteststore.net\/lesson\/uncategorized\/advanced-english-dialogue-for-business-conventional-mortgages\/"},"modified":"2024-06-07T12:47:28","modified_gmt":"2024-06-07T12:47:28","slug":"advanced-english-dialogue-for-business-conventional-mortgages","status":"publish","type":"post","link":"https:\/\/englishteststore.net\/lesson\/advanced-english-for-business\/advanced-english-dialogue-for-business-conventional-mortgages\/","title":{"rendered":"Advanced English Dialogue for Business &#8211; Conventional mortgages"},"content":{"rendered":"<div class=\"wp-block-humix-humix-block\" style=\"justify-content:center\"><div id=\"humix-vid-Hm5xSyzkbWu\" props=\"autoplay=1\" style=\"width:640px;height:480px\" float><script async src=\"https:\/\/www.humix.com\/video.js\"><\/script><\/div><\/div>\n<h3 class=\"wp-block-heading\">Listen to a Business English Dialogue About Conventional mortgages<\/h3>\n<p><strong>Penelope:<\/strong> Hey Justin, do you know much about conventional mortgages? They&#8217;re one of the most common types of home loans.<\/p>\n<p><strong>Justin:<\/strong> Yeah, I&#8217;ve heard of them. They&#8217;re loans that aren&#8217;t backed by the government, right?<\/p>\n<p><strong>Penelope:<\/strong> Exactly! With a conventional mortgage, you usually need a good credit score and a down payment of around 20%.<\/p>\n<p><strong>Justin:<\/strong> So, if the loan isn&#8217;t backed by the government, does that mean there are stricter requirements for approval?<\/p>\n<p><strong>Penelope:<\/strong> That&#8217;s correct. Lenders often have stricter guidelines for conventional mortgages since they&#8217;re taking on more risk without government backing.<\/p>\n<p><strong>Justin:<\/strong> What about interest rates? Are they usually higher or lower for conventional mortgages?<\/p>\n<p><strong>Penelope:<\/strong> It depends on various factors like market conditions and your credit score, but generally, interest rates for conventional mortgages can be lower if you have a strong credit history.<\/p>\n<p><strong>Justin:<\/strong> That makes sense. And what about private mortgage insurance (PMI)? Is that required for conventional mortgages?<\/p>\n<p><strong>Penelope:<\/strong> PMI is typically required if you put down less than 20% on a conventional loan. It protects the lender in case you default on the loan.<\/p>\n<p><strong>Justin:<\/strong> Ah, I see. So, saving up for a larger down payment can help avoid having to pay PMI?<\/p>\n<p><strong>Penelope:<\/strong> Exactly. Putting down a larger down payment not only reduces your monthly payments but also eliminates the need for PMI in many cases.<\/p>\n<p><strong>Justin:<\/strong> That&#8217;s good to know. Thanks for explaining, Penelope. Conventional mortgages seem like a viable option for those who meet the requirements.<\/p>\n<p><strong>Penelope:<\/strong> You&#8217;re welcome, Justin. They&#8217;re definitely worth considering if you&#8217;re in the market for a home loan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Listen to a Business English Dialogue About Conventional mortgages Penelope: Hey Justin, do you know much about conventional mortgages? They&#8217;re one of the most common types of home loans. Justin: Yeah, I&#8217;ve heard of them. They&#8217;re loans that aren&#8217;t backed by the government, right? Penelope: Exactly! With a conventional mortgage, you usually need a good [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2803","post","type-post","status-publish","format-standard","hentry","category-advanced-english-for-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Advanced English Dialogue for Business - Conventional mortgages - English Lessons<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/englishteststore.net\/lesson\/advanced-english-for-business\/advanced-english-dialogue-for-business-conventional-mortgages\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Advanced English Dialogue for Business - Conventional mortgages - English Lessons\" \/>\n<meta property=\"og:description\" content=\"Listen to a Business English Dialogue About Conventional mortgages Penelope: Hey Justin, do you know much about conventional mortgages? They&#8217;re one of the most common types of home loans. Justin: Yeah, I&#8217;ve heard of them. They&#8217;re loans that aren&#8217;t backed by the government, right? Penelope: Exactly! 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