Duplex Question - Posted by _Dog

Posted by Vic on May 24, 2005 at 23:27:33:

Conforming means the loan meets Fannie Mae guidelines. Non-conforming means it’s doesn’t.

Fannie Mae is the secondary mkt. that buys these loans.


Duplex Question - Posted by _Dog

Posted by _Dog on May 24, 2005 at 23:08:25:


I am new and am learning about duplexes. Can someone explain the difference, briefly, between non-conforming and conforming?


Re: Duplex Question - Posted by IA Jeff

Posted by IA Jeff on May 25, 2005 at 07:10:58:

I think you want an answer about conforming duplexes?

A conforming duplex is zoned as a duplex or multi-family and the tax assessor knows it is a duplex. A non-conforming duplex is not recorded at the assessor’s office as a duplex, or the property is not zoned for a duplex or multi-family.