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:
“I would sum up my fear about the future in one word: boring. And that’s my one fear: that everything has happened; nothing exciting or new or interesting is ever going to happen again ... the future is just going to be a vast, conforming suburb of the soul.”
—J.G. (James Graham)
“Slight was the thing I bought,
Small was the debt I thought,
Poor was the loan at best—
God! but the interest!”
—Paul Laurence Dunbar (1872–1906)