The term “conforming” means that a loan adheres the limits set by Fannie Mae and Freddie Mac.
If you need to borrow more than the conforming loan limit your mortgage will be considered “jumbo” and you can expect to pay higher mortgage rates.
The term “conforming” means that a loan adheres the limits set by Fannie Mae and Freddie Mac.
If you need to borrow more than the conforming loan limit your mortgage will be considered “jumbo” and you can expect to pay higher mortgage rates.
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