- A mortgage that meets the requirements to be eligible for purchase or securitization by one of the government-sponsored enterprises such as Fannie Mae, Freddie Mac and Ginnie Mae. Requirements include size of the loan, type and age.
fit mortgage, conforming mortgage
Related Terms and Acronyms
- Home Loan — Definition,
- A loan used to buy a home is referred to as a "mortgage."
- LPQ Amount — Definition,
- A term used by CanEquity which is short for Loan, Purchase or Qualification amount.