Finance
A conforming loan is a mortgage that:
AIs insured by the FHA
BMeets Fannie Mae and Freddie Mac guidelines and falls within their loan limits✓ Correct
CHas a fixed interest rate
DIs only available in rural areas
Explanation
A conforming loan meets the guidelines set by Fannie Mae (FNMA) and Freddie Mac (FHLMC), including loan limits, credit score requirements, and down payment guidelines. These loans can be sold in the secondary mortgage market.
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