Non conforming home loans

triNon conforming home loans are those that exceed amounts allowed by Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Association). They are usually over the amount of $360,000. Fannie Mae and Freddie Mac are government sponsored organizations that help facilitate the availability of home loans by investing government funds throughout the country. These types of contracts are also referred to as "Jumbo" loans. They typically have a higher interest rate and different down payment requirements for the borrower. Amounts offered through this method can be granted to the amount of 2 million dollars.