* Conventional Mortgage aka (Conforming) Mortgage. Minimum LTV is from 3% to 5% depending on the Loan Program. ( Keep in mind the lower the down payment the higher the rate, or fees).
* Conventional Mortgage amortization schedule:
10-year, 15-year, 20-year-, 30-year, 40-year and even 50-year fixed-rate mortgages, all of which are completely amortized by mentioned year.
* Conventional Mortgage limit 2010 for the 5th year in a row, the 1-unit conforming mortgage loan limit is $417,000.
 * Mortgage Insurance Premium (MIP) is required on all Mortgage Loans with less than 20% LTV. The most popular are (fixed rates)

Conventional Mortgage Rates are based on .125 Increments.
Example: %
1.00
.875
.75
.625
.500 = half point
.375
.25
.125

As released by the Federal Housing Finance Agency, the official 2010 conforming mortgage loan size limits are, by property type:
Conventional Conforming Mortgage Loan Limits for 2010
* 1-unit properties : $417,000
* 2-unit properties : $533,850
* 3-unit properties : $645,300
* 4-unit properties : $801,950

Note, however, that maximum Conventional Conforming Mortgage Loan limits vary by market (Zip Code).

Conforming Conforming Mortgage Loan Limits Vary By ZIP Code

Counties in which "typical" home prices dwarf the conforming loan limits are declared "high-cost" areas. Each is assigned a local conforming loan limit that ranges up to $729,750.

That is, a home in Denver, Colorado is capped conforming at $417,000 but a home in Snowmass Colorado can get up to $729,750. includind condos.

The same standard applies for Mason, Ohio as compared to Athens, Ohio. Mason's maximum loan size is $417,000.

In Athens, it's at $432,500.

Unfortunately, Conventional Conforming Mortgage Home Buyers in Chicago, there is no break whatsoever. Chicago's tony neighborhoods -- Lake Forest, Lincoln Park, Hinsdale and elsewhere -- are stuck at $417,000. This is because (Some Would Say Redlining) each of the Chicago counties are a melange of housing types and socioeconomic class.

Neither Lake County, Cook County, Dupage County, nor any of the collar counties are considered high-cost. None has a sufficiently high median sales prices to justify it.