Conforming Mortgages
Mortgage plans are divided into different types. One of the general categories is termed as conventional loans. It can then be classified into the subcategories of conforming and non-conforming loans. Conforming loans are a residential mortgage loan that corresponds to the set of guidelines implemented by The Office of Federal Housing Enterprise Oversight (OFHEO). It is a mortgage that is equal to or less than the dollar amount dictated by the conforming loan limit decided upon by Fannie Mae (FNMA) and Freddie Mac (FHLMC).