Differences and Definitions of Loans
by Jim Bedsole, BOL Gurus Guru BIOS
Question: What is the difference between conforming and non conforming loans? Also can you please give me the definition of a conventional loan?
Answer: Conforming and non-conforming differentiates based on amount of the loan. A conventional loan is wording used to indicate a loan made without any federal guarantee or endorsement. Other types of loans besides conventional would include FHA Loans and VA loans. There is a good and detailed explanation at this website.
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