Home Mortgage Loan Company: Conforming/Non-Conforming
The basic differences between a conforming home mortgage loan and a non-conforming home mortgage loan is that one meets the particular regulations of a home mortgage loan company or lender, and the other does not.
A good example has to do with FHA loans. A lot of times, the FHA places restrictions on the amount of money they will loan out, more so than an average home mortgage loan company. So, if you need to borrow more than the FHA will allow, the loan becomes a non-conforming home mortgage loan and will not be funded by the FHA.
