Date

December 2013

What Are Conforming and Non-Conforming Loans?

Mortgage Dec 23, 2013

The Basics A conforming mortgage is a loan that the government-sponsored offices of Fannie Mae or Freddie Mac are willing to purchase. The reason these offices would be interested in purchasing such a mortgage is that the specified loan must meet the dollar limits set by the companies. Since the government is connected so strongly to these two enterprises, Fannie…