Each year, the Federal Housing Finance Agency (FHFA) sets new baseline loan limits for various types of home loans to reflect changes in U.S. home prices. Conforming loans are conventional mortgages that meet the requirements to be purchased by Fannie Mae or Freddie Mac and make up a large portion of the mortgage market. As…
Tagged: Conforming Loans
Mortgage loans are divided into two categories: Conforming Loans and Non-Conforming Loans. Below, we will highlight the features and benefits of each one, how they relate to each other, and the different options available to home buyers. Non-Conforming vs. Conforming Loans What is a Non-Conforming Loan? A non-conforming mortgage loan is one that does not…
