In the United States, a conforming loan is a mortgage loan that conforms to GSE guidelines.
In general, any loan which does not meet guidelines is a non-conforming loan. A loan which does not meet guidelines specifically because the loan amount exceeds the guideline limits is known as a jumbo loan.
Read more about Conforming Loan: History, Importance, Criteria
Famous quotes containing the words conforming and/or loan:
“... it is use, and use alone, which leads one of us, tolerably trained to recognize any criterion of grace or any sense of the fitness of things, to tolerate ... the styles of dress to which we are more or less conforming every day of our lives. Fifty years hence they will seem to us as uncultivated as the nose-rings of the Hottentot seem today.”
—Elizabeth Stuart Phelps (1844–1911)
“Neither a borrower nor a lender be,
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.”
—William Shakespeare (1564–1616)