Finance
What is a 'conforming loan' in the context of Idaho mortgage financing?
AA loan that complies with FHA guidelines
BA conventional loan that meets the purchasing standards of Fannie Mae and Freddie Mac, including loan limits✓ Correct
CA loan approved by IREC
DAny fixed-rate mortgage
Explanation
A conforming loan is a conventional mortgage that meets Fannie Mae/Freddie Mac guidelines for purchase on the secondary market, including loan limits (which are adjusted periodically). Loans exceeding the limit are 'jumbo' loans.
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