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 loans ny: 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)
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Conventional Home Loans
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