A conforming mortgage is one that does not exceed the maximum mortgage amount limit set by Fannie Mae and Freddie Mac. Conforming mortgages are eligible for purchase by Fannie and Freddie on the secondary market. On the other hand, a jumbo mortgage is one that exceeds the mortgage amount limit set by Fannie and Freddie. Jumbo mortgages are only eligible for purchase by Fannie and Freddie in certain cases. The established limits for conforming and jumbo mortgages change periodically.
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