The differences between a conforming and nonconforming loan can be boiled down to this: Conforming loans meet guidelines set by Fannie.
FHFA Increases Conforming Loan Limits for Fannie, Freddie in 2019 – The Federal Housing Finance Agency announced on Tuesday that it would be increasing the conforming loan limits on mortgages to be acquired by Fannie Mae and Freddie Mac for the third consecutive year..
Conforming Loan. By Investopedia Staff. A conforming loan is a mortgage that is equal to or less than the dollar amount established by the conforming loan limit set by The Federal Housing Finance Agency (FHFA) and meets the funding criteria of Freddie Mac and Fannie Mae.