What are conforming and non-conforming mortgage loans?
Conforming loans fall within FANNIE MAE and FREDDIE MAC maximum loan limits. As of January 1st, 2006, the conforming loan limits, set by The Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC) for single-family properties will be increased to $417,000; visit Florida Mortgage Conforming Loan Limits. Loans which meet all other borrower and property requirements of these two agencies may also be described as conforming. Loan amounts above the $417,000 limit are generally considered non-conforming, and are sold as securities on the secondary market. Ask us about our low interest rate Jumbo programs for loans up to 650,000; and Super Jumbo programs for loans above $650,000. Call now at 1-321-987-9876. What are FHA and VA loans? The Federal Housing Administration, or FHA, is a part of the Department of Housing and Urban Development (HUD) which insures participating lending institutions against loss from default on qualifying mortgages. Home loa
