Conforming Loan

In the United States, a conforming loan is a mortgage loan that conforms to GSE (Fannie Mae and Freddie Mac) guidelines. The most well-known guidelines is the size of the loan, which as of 2013 was generally limited to $417,000 for single family homes in the continental US. Other guidelines include borrower's loan-to-value ratio (i.e. the size of down payment), debt-to-income ratio, credit score and history, documentation requirements, etc.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.
Posts about Conforming Loan
  • 10 Common Mortgage Related Terms and Definitions You Need to Know

    … RGR Marketing HIgh Quality B2B Leads Online How Mortgage Brokers Can Educate Clients Buying a home can be a stressful event, especially if it’s you or your client’s first time. Chances are strong that a first-time homebuyer will never make a more expensive purchase during the course of their lives. What can be even worse, is the litany of brand…

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