A mortgage that is equal to or less than the dollar amount established by the conforming loan limit set by Fannie Mae and Freddie Mac's Federal regulator. In general, any loan which does not meet guidelines is a non-conforming loan. A loan which does not meet guidelines specifically because the loan amount exceeds the guideline limits is known as a jumbo loan. In the United States, a conforming loan is a mortgage loan that conforms to GSE guidelines. In general, any loan which does not meet guidelines is a non-conforming loan. A loan which does not meet guidelines specifically because the … (0 comments)
conventional home loans: Conventional Home Loans
- 09/29/13 06:40 PM
In general, any loan which does not meet guidelines is a non-conforming loan. A loan which does not meet guidelines specifically because the loan amount exceeds the guideline limits is known as a jumbo loan. In the United States, a conforming loan is a mortgage loan that conforms to GSE guidelines. Starting in 1970, Fannie Mae was authorized by the United States Government to purchase residential mortgage loans. Fannie Mae worked with Freddie Mac to develop uniform mortgage documents and national standards for what would come to be known as a conforming loan. Fannie Mae and Freddie Mac are continuously in the market … (0 comments)
conventional home loans: Conventional Home Loan Basics
- 09/26/13 01:13 AM
These days there are many different home loan programs for you to choose from, one of the most popular and tried loan programs available is a conventional loan. A conventional home loan is any mortgage which is not guaranteed or insured by any government agency. One of my biggest specialties is helping clients with their Manhattan, Brooklyn and Long Island conventional loan needs and questions. I created this page to inform you on the details of a conventional loan.
Conventional loans are one of the original home loan products. They follow guidelines set by Fannie Mae. Fannie Mae is a … (2 comments)
conventional home loans: Loan Options
- 09/26/13 12:47 AM
Conventional Fixed Rate Mortgages (FRM) A popular loan type, conventional fixed rate loans feature a constant interest rate for the life of the life. Generally speaking, monthly payments remain constant. Traditionally borrowers are expected to provide a 20 percent down payment though this is not necessarily required. Contact us for details on down payment requirements. 516 469 6262 Available terms generally range from 10 years, 15 years, 30 years and 40 years.
Adjustable Rate Mortgages (ARM) Adjustable rate mortgages are loans where the interest rate is recalculated on a yearly basis depending on market values. As interest rates are adjusted … (0 comments)
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Conventional Home Loans
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