Conventional home loans offered by Noble Home Loans adhere to the standards set by Freddie Mac and Fannie Mae, the two major government-sponsored enterprises (GSEs) that enhance liquidity in the mortgage market. These loans, which are not backed by the US government, include various types such as portfolio loans, construction loans, and subprime loans. Typically, when referring to 'conventional loans,' it implies those that are conforming and eligible for purchase by Fannie Mae and Freddie Mac. These loans must meet specific criteria including debt-to-income ratios and loan limits, with any loans exceeding these limits classified as jumbo loans, which carry higher interest rates. Fannie Mae and Freddie Mac play a crucial role in the housing finance system by purchasing mortgages, bundling them, and selling them as securities, thus providing essential liquidity to lenders.
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