Types of Mortgages

Conventional

Any mortgage loan not insured or guaranteed by the government (such as under the Federal Housing Administration, Department of Veterans Affairs, or Department of Agriculture loan programs). Conventional loans can be conforming or non-conforming.

“Conforming” loan, which simply means that it meets the requirements for Fannie Mae or Freddie Mac

“Non-Conforming” Loan - A non-conforming loan is a loan that does not meet Fannie Mae and Freddie Mac's standards for purchase.

Who is Fannie Mae and Freddie Mac?

Fannie Mae

Is a government-sponsored enterprise that purchases, guarantees, and securitizes home loans.. source of financing for mortgages in the United States, Fannie Mae purchases mortgages from lenders and helps facilitate the flow of capital into the housing market by issuing and guaranteeing mortgage-related securities

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Freddie Mac

The Federal Home Loan Mortgage Corp. is a government-sponsored enterprise that purchases, guarantees, and securitizes home loans. Freddie Mac operates in the U.S. secondary mortgage market, buying loans that meet our standards from approved lenders

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Types of Mortgages

Conventional

Who is Fannie Mae and Freddie Mac?

Get Pre-Approved

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