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Conforming loans typically refer to loan amounts that conform to government service standards as determined by Fannie Mae & Freddie Mac. These two government agencies, set up in the early 1940's, were established to help people finance new homes. Conforming loan amounts range in amount from $1 to $729,000 depending on the location of the property. However, not all conforming loans are serviced by these government agencies. The mortgage industry has adopted the term to express loan amounts in this range.