Non-Conforming loan

1 topic · 2 sources

Real Estate

A loan that does not conform to Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines. Jumbo loans are nonconforming. See also: conforming loan.

Ginnie Mae — Ginnie Mae Glossary of Terms

Is a loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans.

US Department of Housing and Urban Development — Homes & Communities Glossary