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:
“But the way is wide over stubble and sands,
Wider and not too wide, as a dish in space
Is excellent, conforming to demands
Not yet formulated.”
—John Ashbery (b. 1927)
“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)