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:
“As for conforming outwardly, and living your own life inwardly, I do not think much of that. Let not your right hand know what your left hand does in that line of business. It will prove a failure.... It is a greater strain than any soul can long endure. When you get God to pulling one way, and the devil the other, each having his feet well braced,—to say nothing of the conscience sawing transversely,—almost any timber will give way.”
—Henry David Thoreau (1817–1862)
“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)