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
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.