non-conforming loan
- A loan that does not meet the guidelines set by the Federal National Mortgage Association or the Federal Home Loan Mortgage Corporation, often called a jumbo loan
- She was unable to secure a conventional mortgage due to its classification as a non-conforming loan.
- Their purchase of an upscale townhouse was made possible by a non-conforming loan.
- For luxury properties, a non-conforming loan is often used because the amount exceeds typical lending limits.
Provide Feedback
