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what does conforming mean

  • September 22 2009 - Santee
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Answers (4)

Conforming means it conforms to guidelines of Fannie Mae/Freddie Mac/Ginnie Mae guidelines.  Conventional means it is not a VA or FHA loan.  Ginnie Mae services FHA/VA loans so a "conventional conforming loan" is a Fannie/Freddie loan.
  • September 25 2009
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Fannie and Freddie purchase/invest in loans that fit their own guidelines. "Conforming" loans are those that "conform" to these guidelines including a cap on loan amount of $417k.  Then there are conforming jumbo loans which also meet Fannie/Freddie criteria but cap loan amount at $729,750 temporarily.  Finally, all other loans that do not meet Fannie/Freddie guidelines are considered "non-conforming" and are held in investment portfolios of investors other than Fannie/Freddie.
  • September 25 2009
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"Conforming" describes more than just the loan amount.  It means that it is conforming to fannie & freddie guidelines.
  • September 22 2009
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Conforming mortgages is loan amounts at or under $417,000.
  • September 22 2009
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