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A non conforming home loan can have benefits on the economy. Some of these benefits on the economy are by limiting the high-cost areas of living which has also been incorporated.

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Q: What benefit does a non conforming home loan have on the economy?
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What makes a loan a jumbo or conforming loan in Manhattan for a co-op?

you can get the information about loan a jumbo or conforming loan in Manhattan for a co-op from nycblogestate.com/ website


What is the conforming loan limit amount for the Zip Code 92679?

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How much is a conforming loan in California?

$ 625,000.00


Is it fraud for a power of attorney to take out a home loan?

If the home loan can be proven to be to the benefit of the principal then there should be no problem. If it is to the benefit of the agent alone then the matter has to be investigated.


What is the maximum housing ratio for a conforming loan?

33


What is the maximum allowable housing ratio for a conforming loan?

33


What is the purpose of a conforming mortgage?

Fannie Mae worked with Freddie Mac to develop uniform mortgage documents and national standards for what would come to be known as conforming loan .


How do home loan rates compare to other secured types of loans?

Home loan rates fluctuate with the rise and fall of interest rates. These rates are affected by the stock market, economy, etc. Most people opt for this type of loan versus a home equity loan because it does not require the home for collateral.


What is a nonconforming loan?

This question is best answered by understanding what a conforming loan is. Government sponsored entities (GSEs) such as Freddie Mac, Fannie Mae, and Ginnie Mae purchase mortgages from lenders. In order for a mortgage to be purchased, it must meet certain standards (called "conforming"). For a conforming loan, mortgage applicant must meet the following requirements: * PTI (paymento-to-income) ratio below a certain threshold * LTV (loan-to-value) ratio below a certain threshold * loan amount below a certain threshold A nonconforming loan is one which does not meet these requirements. For example, a common nonconforming loan is a "jumbo mortgage", which has a loan amount that exreeds the required threshold.


What is a veteran affair loan?

if you are referring to a VA Home loan it is a benefit that veteran's earn if they are discharged honorably or under other then honorable conditions. You cannot earn it with a dishonorable discharge. It is a home loan program that guarantees the bank if the veteran defaults on the home mortgage the VA will step in and pay them a certain percentage (depending on the amount of the loan)


How is a conforming loan different from other loans?

Conforming loans are typically reserved most for those with good or above average credit scores as they offer a lower interest rate while Non-Conforming loans are offered with a higher interest rate to a wider range of buyers.


What is a super conforming loan?

A super conforming mortgage loan is a term coined by Fannie Mae and Freddie Mac for mortgages in certain parts of the country that are more expensive areas to live. Fannie and Freddie have a mortgage limit of $417,000 in most parts of the country, and anything above that figure they will not buy because it is considered a jumbo loan. Because of the appreciation in home values, certain areas can now apply for loans up to $625,000 and even $729,000 because of the high cost of homes.