conforming loan
Meets the eligibility requirements for purchase by federal agencies including Fannie Mae and Freddie Mac. By 2006 standards, the mortgage loan must not exceed $417,000 for a single unit property.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
conforming
Verb: conform (be similar, be in line with)
Verb: adjust, conform, adapt (adapt or conform oneself to new or different conditions) "We must adjust to the bad economic situation"
Adjective: conforming, conformist (adhering to established customs or doctrines (especially in religion))
loan
Noun: loan (the temporary provision of money (usually at interest))
Noun: loanword, loan (a word borrowed from another language; e.g. `blitz' is a German word borrowed into modern English)
Verb: lend, loan (give temporarily; let have for a limited time) "I will lend you my car"; "loan me some money"
- conforming loan -
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