Conforming Loans

Conforming Loans

 

Conforming Loans:
Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community. Every year, form October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.

Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.

Conforming Loan Limits:

Number of Units Maximum original principal balance Alaska, Guam, Hawaii, and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925

NOTE: The conforming loan limit in Alaska, Hawaii, Guam and the Virgin Islands is 50% higher.

 

Get In Contact With BUYorREFI Financial By Phone or Email.

Licensing

BUYorREFI Financial (NMLS 1838307)
(MB-10000724)
Rhett Laufenburger NMLS# 221295
6532 West Leiber Place
Glendale, AZ 85310

Contact Us

BUYorREFI Financial
14780 W Mountain View Blvd
Suite #206
Surprise, AZ 85374

Number:
(480) 225-6699

Hours:
MON-FRI 9AM - 5PM
SAT-SUN By Appointment only

This material is not from HUD or FHA and has not been approved by HUD or a government agency."  Remove the pictures of money from the home page as advertisements containing graphics of checks or currency are seen as unethical by NRMLA Ethics Advisory Opinion 2012-01. On the Reverse Mortgage page, edit the answer to "What restrictions apply to the cash I receive from a Reverse Mortgage," by adding an asterisk after non-taxable with the explanation to consult a tax professional.



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