Finance
In Michigan, a conventional conforming loan is one that:
AIs insured by FHA
BMeets Fannie Mae and Freddie Mac guidelines for purchase on the secondary market✓ Correct
CIs guaranteed by the VA
DIs funded directly by the state government
Explanation
A conventional conforming loan meets the underwriting guidelines and loan limits established by Fannie Mae and Freddie Mac, making it eligible for purchase on the secondary mortgage market.
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