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Simple English definitions for legal terms

conventional loan

Read a random definition: sole-actor doctrine

A quick definition of conventional loan:

A conventional loan is a type of mortgage that a person gets from a bank or other financial institution. It's not backed by the government like some other types of loans. When someone gets a conventional loan, they transfer the title or lien of their property to the lender as security for the loan. They make regular payments of both principal and interest until the loan is paid off. This type of loan is often used for buying a home.

A more thorough explanation:

A conventional loan is a type of mortgage that is not backed by government insurance. In this type of loan, the borrower transfers a lien or title to the lending bank or other financial institution. These mortgages typically feature a fixed periodic payment of principal and interest throughout the mortgage term and are commonly used for home financing.

Example: John wants to buy a house and applies for a conventional loan from a bank. The bank approves his loan and transfers the title of the property to John. John will make fixed monthly payments of principal and interest to the bank until the loan is fully paid off.

This example illustrates how a conventional loan works. The borrower receives a loan from a bank or financial institution and transfers the title of the property to the lender as collateral. The borrower then makes fixed monthly payments until the loan is fully paid off.

conventional law | conventional mortgage

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JumpySubsequentDolphin
20:11
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20:11
bunny, u so fair. perfect balance of strong hand yet forgiving in punishment. great judge material imo
no place for that
@JumpySubsequentDolphin: gets it, that's why she's wifey
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it’s not even a strong hand I let you guys bully them out usually but when it’s like ten slurs one message I don’t love to let that sit
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hot mod
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u addicted to my clout
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JumpySubsequentDolphin
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@CurvyHypnoticSheepdog: <3
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goon eyes is crazy. if u end up reapplying I’ll recommend to the the powers that be to make u a mod
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JumpySubsequentDolphin
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^small town cop vibez
@JumpySubsequentDolphin: did you eat dinner sweetheart
soap
20:21
Did evil bun crash out aagin
triplethread
20:27
Yes
GreyCeaselessMammoth
20:30
curvy u were right that ucla was staggering their decisions and not just releasing all rs and wls at once... don't ask how i know :/
did you just get one...
bc if so I might be in line
20:38
mammoth wdym? D:
mammoth don't go ghost now cmon
GreyCeaselessMammoth
20:54
omg sorry guys i was in the middle of drafting my loci
GreyCeaselessMammoth
20:54
wl city
GreyCeaselessMammoth
20:54
i totally jinxed it
did you finish it
I have been struggling to write mine
triplethread
21:21
GO BUCKS!!!!!!
triplethread
21:22
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