A conforming loan is one that conforms to GSE (Fannie Mae and Freddie Mac) guidelines. The most well-known guideline is the size of the loan, which, for 2019, is $484,350 for single family home in Texas. A conforming loan may be used for the purchase or refinance, including a cash-out refinance.
Because the GSE's package and sell these loans as securities, they are often come with some of the lowest interest rates, especially for a fixed rate loan.
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