Conforming Loan is a mortgage loan that conforms to Fannie Mae and Freddie Mac guidelines. The size of the loan is generally limited to $453,100 for a single family home or condo; however, higher loan limits apply to 2-4 units. A 30-years fixed mortgage is the most popular mortgage available—ideal for budget minded borrowers. The monthly payment includes the principal and interest and is calculated to pay off the loan at the end of your term.
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