A Conforming Loan can be an option if your mortgage amount doesn’t exceed the conforming loan limit, $726,200 for most U.S. counties.
What is a Conforming Loan?
A conforming loan is a mortgage that follows the guidelines set by Fannie Mae and Freddie Mac. These government-sponsored companies help provide lenders with the money they need to make home loans. Loan size, limited to $726,200 in most U.S. counties, is the most well-known requirement for conforming loans. Loans that don't meet the standards set are called Non-Conforming Loans.
Is a Conforming Loan right for you?
Conforming Loans are often well-suited for borrowers with:
- Loan amounts that fall within conforming loan limits
- Good or excellent credit
- Easy-to-document income
Want a loan with more flexibility? A government-backed FHA mortgage could be a better fit. After you apply, we'll review all of your mortgage options with you.
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