Non-Conforming Loan
A non-conforming mortgage falls outside one or more Fannie Mae or Freddie Mac purchase requirements, including applicable loan limits.
Non-conforming mortgages fall outside specified Fannie Mae or Freddie Mac purchase requirements and require product-specific comparison.
A non-conforming loan is generally a conventional mortgage that does not satisfy one or more requirements for purchase by Fannie Mae or Freddie Mac. A loan may be non-conforming because its amount exceeds the applicable limit or because another borrower, property, documentation, or product requirement is not met.
| Term | Main question |
|---|---|
| Non-Conforming Loan | Which Enterprise purchase requirement is not met, and how does that affect funding, underwriting, pricing, disclosures, and marketability? |
Non-conforming does not automatically mean subprime, jumbo, non-qualified, low-documentation, or high-cost. Those labels test different facts and should be analyzed separately.
This page provides general financial education, not individualized mortgage, legal, tax, lending, or investment advice.
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A non-conforming mortgage falls outside one or more Fannie Mae or Freddie Mac purchase requirements, including applicable loan limits.