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Conforming Loan

   Also found in: Wikipedia 0.40 sec.
Conforming Loan
A conventional mortgage under $203,150 that conforms to the loan amounts and mortgage guidelines used by Fannie Mae and/or Freddie Mac.

Notes:
Conventional mortgages or conforming loans are classified as non-conforming or jumbo loans when the amount of the loan exceeds $203,150.
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But that's how Washington views us for purposes of establishing conforming loan limits.
STATE'S ON SHORT END OF STICK ON LOAN LIMITS by Daily News (Los Angeles, CA)
The Veterans Benefits Improvement Act of 2004 tied increases in the VA guaranty to the Federal Home Loan Mortgage Corporation's conforming loan limit, allowing VA to keep pace with rising home values.
Higher limits for VA home loan program by DAV Magazine
Under federal law, the loan limits are indexed to the conforming loan limits of Freddie Mac and Fannie Mae - federally chartered corporations that buy and package mortgages.
Higher FHA home mortgage limits announced by Real Estate Weekly
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