Conforming Loan

Definition

  • 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.

Synonyms
conforming mortgage, fit 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.
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