Finance
A NC 'conforming loan' meets the requirements to be purchased by Fannie Mae or Freddie Mac. These requirements include:
AAny amount as long as the property is in NC
BLoan balance at or below the conforming loan limit, meeting underwriting standards for creditworthiness✓ Correct
COnly FHA-insured loans
DOnly VA-guaranteed loans
Explanation
Conforming loans must not exceed the FHFA-set conforming loan limit and must meet GSE underwriting standards for credit score, LTV, income verification, and property type.
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