Conforming Loans

Definition of "Conforming loans"

Loans that adhere to national guidelines by Fannie Mae, who buy the loans on the secondary market. Fannie Mae purchases mortgages to a certain dollar limit. Conforming loans typically come with a lower interest rate than larger mortgage, or jumbo loans, which are purchased on the secondary mortgage market by another federally chartered company, the Federal Home Loan Mortgage Corporation.

Search Real Estate Glossary

Related Real Estate Glossary terms

Blind Pool Syndicate

Money raised by a syndicate promoter and placed into a fund prior to selecting the specific property ...

Elizabethan Style

English architecture. This style has two levels with the second level typically overlaying the first ...

Yield To Maturity (ytm)

Sum total of the annual effective rate of return earned by an owner of a bond if that bond is held u ...

Gross Income

Total income before adjustment for deduction as applied to tax calculation for both the individual a ...

Prime Tenant

Major tenant in an office building or shopping center. A prime tenant occupies more space than any o ...

Estate

The real and personal assets of a person at the date of death. The distribution of the assets to the ...

Related Real Estate FAQ

What Is A Closing?

The process of finalizing all the dealing associated with the sale and purchase of a home. (Also kno ...

What Is A Loan Origination Fee?

A loan origination fee is a fee charged by the lender-usually 1 percent of the loan amount. ...

What Is A Buyer's Agent?

On most transactions, there is usually a listing agent and a selling agent. The selling agent is som ...

What Is A Wraparound Mortgage?

A wraparound mortgage is a new mortgage that includes the remaining balance on an old mortgage, plus ...

What Is A Cap?

A limit on an adjustable-rate mortgage. ...

What Is An Assessed Value?

The public tax assessor value of a property as determined for the purpose of taxation. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

What is Earnest Money How To Get A Loan with Bad Credit What Must I Disclose When Selling My Home? Is it better to buy or sell a home first Rent or Buy - the pros and cons

FAQ

What is an escrow officer? What is title insurance? What if they no longer make my specific computer? What do I need to know about Renters Insurance, and what does it cover? What is a VA loan?