Conforming Loans Defined:
Conforming loans are loans that pass muster with Fannie Mae and Freddie Mac. You may want to get a conforming loan because rates are lower and funding is easier.
Criteria for Conforming Loans:
Criteria include:
- Credit quality of the borrower
- Size of the loan (see Jumbo Loans)
- Debt to income ratios
- State of the property
- Loan to value ratio
- And more...
