What is the difference between Conforming and Non-Conforming loans?
Conforming loans are loans that comply with the guidelines set forth by the federal government for “conforming” lending. Some of the guidelines are borrower credit scores, and total loan amounts. Non-conforming loans to do not abide by these guidelines. Non-conforming loans have higher loan limits. They can also be advantageous to borrower with credit scores that make conforming loans unavailable to them.
