Fannie Mae Conforming & High Balance 10-30 Year Fixed Rate and 5/1, 7/1, and 10/1 ARM DU 10.3 Fannie Mae Conforming & High Balance 10-30 Year Fixed.
5: Fannie Mae Multifamily mortgages are assumable for a 1% fee, but the new assuming borrower (i.e. Purchaser) must qualified by meeting the original underwriting standards. Typically this occurs when the Borrower wants to sell the commercial real estate that secures the loan, and the Purchaser of the property wants to take the loan over.
Purpose Vs Non Purpose Loan confirming loan The biggest feature of the conforming loan is the limit. In order to meet requirements, the FHFA limits the size of the loan-also reducing the risk of a default. Anything that is larger than the conforming limit is considered a jumbo loan.