Finance
In Kansas, what is a 'conforming loan'?
AA loan that conforms to the borrower's lifestyle
BA mortgage that meets the size and underwriting standards set by Fannie Mae and Freddie Mac for purchase on the secondary market✓ Correct
CA loan only for new construction
DA loan that conforms to FHA guidelines
Explanation
Conforming loans meet the standards (loan limits and underwriting guidelines) set by the FHFA for purchase by Fannie Mae and Freddie Mac, making them eligible for sale to the secondary market.
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