Finance
A conforming loan in Rhode Island is one that:
AConforms to all RI state lending regulations
BMeets the loan limits and underwriting guidelines established by Fannie Mae and Freddie Mac✓ Correct
CIs issued by a Rhode Island state-chartered bank only
DRequires a down payment of at least 20%
Explanation
A conforming loan meets the loan limits and underwriting guidelines established by Fannie Mae and Freddie Mac, making it eligible for purchase on the secondary mortgage market.
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