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Conforming Loan -A non-government sponsored loan with low down payment options
Conforming loan is a sub-category of a conventional loan that meets the dollar limits set by the Federal Housing Finance Agency (FHFA) and the funding criteria of set by FreddieMac and FannieMae. For borrowers with excellent credit, a conforming loan is advantageous due to its low interest rates and lower down payment compared to other conventional…