Finance
In Virginia, a 'conforming loan limit' determines:
AThe maximum property tax a homeowner pays
BThe maximum loan amount eligible for purchase by Fannie Mae and Freddie Mac✓ Correct
CThe minimum credit score for FHA loans
DThe maximum HOA fees allowed
Explanation
Conforming loan limits set by the FHFA determine the maximum loan amount eligible for purchase by Fannie Mae and Freddie Mac. Loans above this limit are 'jumbo loans' with different requirements.
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