U.S. Government Now to Back Mortgages More Than $1 Million. Here's What It Means for Home Buyers

U.S. Government Now to Back Mortgages More Than $1 Million. Here's What It Means for Home Buyers

If you're looking for a mortgage, you may want to stick to a conforming loan. A conforming loan is a government-backed mortgage whose total is below a certain threshold. Conforming loans are those that are suitable to be sold to Fannie Mae or Freddie Mac, the government-sponsored entities that buy mortgages.