Finance
A Wyoming conventional loan that conforms to Fannie Mae/Freddie Mac limits is called a:
AJumbo loan
BConforming loan✓ Correct
CFHA loan
DPortfolio loan
Explanation
A conforming loan meets the guidelines and loan limits set by Fannie Mae and Freddie Mac, allowing it to be sold in the secondary market. Loans exceeding these limits are called jumbo loans and typically have higher interest rates and stricter requirements.
Related Wyoming Finance Questions
- A Wyoming property's loan-to-value (LTV) ratio is 75%. The property is appraised at $360,000. What is the loan amount?
- A Wyoming buyer obtains seller financing with a 'due on sale' clause. This means:
- In Wyoming, a loan servicer is the entity that:
- The 'secondary mortgage market' is important to Wyoming real estate because it:
- A Wyoming property 'short sale' requires:
- In Wyoming, 'seller concessions' in a real estate transaction refer to:
- In Wyoming, hypothecation in real estate finance means:
- Wyoming has no state income tax. How does this affect the federal mortgage interest deduction for Wyoming homeowners?
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →