Credit score is perhaps one of their most important qualifying criterion other than loan size. If the loan amount exceeds the loan limit (jumbo loan) or doesn’t meet the guidelines of Fannie or Freddie, it is known as anon-conforming loan. When Does the Conforming Loan Limit Change? The ...
Can you get a loan directly from Fannie Mae or Freddie Mac? No, the GSEs buy qualifying loans from lenders. How will I know if my loan is sold to Fannie or Freddie? Likely you won't. The GSEs won't collect your monthly payment or perform a borrower-facing service. However, they may...