Requirements, Limits, Calculator, Benefits, Interest Rates & How to Get ?

What is Conforming Loan ?

A conforming loan is a mortgage that meets the dollar limits set by the Federal Housing Finance Agency (FHFA) and the funding criteria of Freddie Mac and Fannie Mae.

How a Conforming Loan Works ?

Mortgages are not issued by Fannie Mae or Freddie Mac directly. Instead, they serve as secondary market makers and insure mortgages issued by lenders like banks.

How to Qualify for Conforming Loan ?

You need FICO credit scores at least 620 to eligible for conforming loan. There is no government specific minimum credit score for USDA and VA mortgages.


What is Conforming Loan Limits ?

The baseline limit is $647,200 for the most of US. The ceiling is higher in high-cost markets is $970,800 or 150% of $647,200. The FHFA adjusts its loan ceilings for every year.

What are the benefits of conforming loan?

Conforming Loans Offer Greater Consumer Protections And Lower Interest Rates. Many consumers benefit from conforming loan because of the lower fees and stability of loan.

How to Apply for a Conforming Loan ?

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Any lender that you choose to work with can accept your application for a conforming loan.