conforming loan - a residential mortgage loan limited to an amount specified in accordance with rules established by the Federal National Mortgage Association (FNMA or Fannie Mae) or the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) for the purchase of such loans. Dollar limits vary over time and between states. Because conforming loans are readily bought and sold, they generally carry a lower interest rate than that of nonconforming loans. See also jumbo loan, nonconforming loan, and super-jumbo loan.

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