The most well-known non-conforming loan is the jumbo mortgage, though there are other non-conforming loan products that exist. With a jumbo mortgage, the size of the loan exceeds the conforming limits (again, usually $417,000) for the area in which the home is being purchased.
Conforming Fixed Loan Vs Conventional Jumbo mortgages tend to fall outside conforming loan restrictions. A conventional mortgage is one that’s not connected in any way with the government, such as because it’s guaranteed or insured by.