A non-conforming loan is a type of mortgage that does not meet the standards set by Fannie Mae or Freddie Mac, the two government-sponsored enterprises that buy mortgages from banks. Non-conforming loans may have higher interest rates or require larger down payments.
Would you like to learn more about Real Estate? Have you ever wanted to become a New Jersey Real Estate Salesperson License holder? Want to know more about being a New Jersey Licensed Real Estate Agent? Click on the link for the schedule of our upcoming classes for Real Estate: tocrres.com