What are Conventional Loans and Conforming Loans?

By definition, a Conventional Loan is any mortgage that’s not guaranteed or insured by the federal government. Kansas conventional loans may be either “conforming” and “non-conforming”, although ‘conventional loans’ generally refer to ‘conforming loans’. Therefore Kansas conventional loan limits are the same thing as Kansas conforming loan limits.

Kansas Conventional Loan Limits

What is the maximum amount that I can borrow?

Conventional loan limits in Kansas are determined by:

  • Kansas Conventional Loan LimitsMaximum LTV Ratio:  The maximum financing loan-to-value ratio for conventional mortgages is 80% – 97% of the appraised value of the home or its selling price, whichever is lower. Learn how to calculate loan-to-value.
  • Maximum Loan Amount: Conventional loan limits in Kansas are set at the floor amount of $424,100 across the entire state. Metro areas in KS with a conforming limit of $424,100 include Wichita, Kansas City and Topeka.

Search all Conventional Loan Limits in Kansas:

County Name
Area
1-Unit
2-Unit
3-Unit
4-Unit
ALLENNON-METRO$510,400$653,550$789,950$981,700
ANDERSONNON-METRO$510,400$653,550$789,950$981,700
ATCHISONATCHISON, KS$510,400$653,550$789,950$981,700
BARBERNON-METRO$510,400$653,550$789,950$981,700
BARTONGREAT BEND, KS$510,400$653,550$789,950$981,700
BOURBONNON-METRO$510,400$653,550$789,950$981,700
BROWNNON-METRO$510,400$653,550$789,950$981,700
BUTLERWICHITA, KS$510,400$653,550$789,950$981,700
CHASEEMPORIA, KS$510,400$653,550$789,950$981,700
CHAUTAUQUANON-METRO$510,400$653,550$789,950$981,700
CHEROKEENON-METRO$510,400$653,550$789,950$981,700
CHEYENNENON-METRO$510,400$653,550$789,950$981,700
CLARKNON-METRO$510,400$653,550$789,950$981,700
CLAYNON-METRO$510,400$653,550$789,950$981,700
CLOUDNON-METRO$510,400$653,550$789,950$981,700
COFFEYNON-METRO$510,400$653,550$789,950$981,700
COMANCHENON-METRO$510,400$653,550$789,950$981,700
COWLEYWINFIELD, KS$510,400$653,550$789,950$981,700
CRAWFORDPITTSBURG, KS$510,400$653,550$789,950$981,700
DECATURNON-METRO$510,400$653,550$789,950$981,700
DICKINSONNON-METRO$510,400$653,550$789,950$981,700
DONIPHANST. JOSEPH, MO-KS$510,400$653,550$789,950$981,700
DOUGLASLAWRENCE, KS$510,400$653,550$789,950$981,700
EDWARDSNON-METRO$510,400$653,550$789,950$981,700
ELKNON-METRO$510,400$653,550$789,950$981,700
ELLISHAYS, KS$510,400$653,550$789,950$981,700
ELLSWORTHNON-METRO$510,400$653,550$789,950$981,700
FINNEYGARDEN CITY, KS$510,400$653,550$789,950$981,700
FORDDODGE CITY, KS$510,400$653,550$789,950$981,700
FRANKLINOTTAWA, KS$510,400$653,550$789,950$981,700
GEARYMANHATTAN, KS$510,400$653,550$789,950$981,700
GOVENON-METRO$510,400$653,550$789,950$981,700
GRAHAMNON-METRO$510,400$653,550$789,950$981,700
GRANTNON-METRO$510,400$653,550$789,950$981,700
GRAYNON-METRO$510,400$653,550$789,950$981,700
GREELEYNON-METRO$510,400$653,550$789,950$981,700
GREENWOODNON-METRO$510,400$653,550$789,950$981,700
HAMILTONNON-METRO$510,400$653,550$789,950$981,700
HARPERNON-METRO$510,400$653,550$789,950$981,700
HARVEYWICHITA, KS$510,400$653,550$789,950$981,700
HASKELLNON-METRO$510,400$653,550$789,950$981,700
HODGEMANNON-METRO$510,400$653,550$789,950$981,700
JACKSONTOPEKA, KS$510,400$653,550$789,950$981,700
JEFFERSONTOPEKA, KS$510,400$653,550$789,950$981,700
JEWELLNON-METRO$510,400$653,550$789,950$981,700
JOHNSONKANSAS CITY, MO-KS$510,400$653,550$789,950$981,700
KEARNYGARDEN CITY, KS$510,400$653,550$789,950$981,700
KINGMANNON-METRO$510,400$653,550$789,950$981,700
KIOWANON-METRO$510,400$653,550$789,950$981,700
LABETTEPARSONS, KS$510,400$653,550$789,950$981,700
LANENON-METRO$510,400$653,550$789,950$981,700
LEAVENWORTHKANSAS CITY, MO-KS$510,400$653,550$789,950$981,700
LINCOLNNON-METRO$510,400$653,550$789,950$981,700
LINNKANSAS CITY, MO-KS$510,400$653,550$789,950$981,700
LOGANNON-METRO$510,400$653,550$789,950$981,700
LYONEMPORIA, KS$510,400$653,550$789,950$981,700
MARIONNON-METRO$510,400$653,550$789,950$981,700
MARSHALLNON-METRO$510,400$653,550$789,950$981,700
MCPHERSONMCPHERSON, KS$510,400$653,550$789,950$981,700
MEADENON-METRO$510,400$653,550$789,950$981,700
MIAMIKANSAS CITY, MO-KS$510,400$653,550$789,950$981,700
MITCHELLNON-METRO$510,400$653,550$789,950$981,700
MONTGOMERYCOFFEYVILLE, KS$510,400$653,550$789,950$981,700
MORRISNON-METRO$510,400$653,550$789,950$981,700
MORTONNON-METRO$510,400$653,550$789,950$981,700
NEMAHANON-METRO$510,400$653,550$789,950$981,700
NEOSHONON-METRO$510,400$653,550$789,950$981,700
NESSNON-METRO$510,400$653,550$789,950$981,700
NORTONNON-METRO$510,400$653,550$789,950$981,700
OSAGETOPEKA, KS$510,400$653,550$789,950$981,700
OSBORNENON-METRO$510,400$653,550$789,950$981,700
OTTAWASALINA, KS$510,400$653,550$789,950$981,700
PAWNEENON-METRO$510,400$653,550$789,950$981,700
PHILLIPSNON-METRO$510,400$653,550$789,950$981,700
POTTAWATOMIEMANHATTAN, KS$510,400$653,550$789,950$981,700
PRATTNON-METRO$510,400$653,550$789,950$981,700
RAWLINSNON-METRO$510,400$653,550$789,950$981,700
RENOHUTCHINSON, KS$510,400$653,550$789,950$981,700
REPUBLICNON-METRO$510,400$653,550$789,950$981,700
RICENON-METRO$510,400$653,550$789,950$981,700
RILEYMANHATTAN, KS$510,400$653,550$789,950$981,700
ROOKSNON-METRO$510,400$653,550$789,950$981,700
RUSHNON-METRO$510,400$653,550$789,950$981,700
RUSSELLNON-METRO$510,400$653,550$789,950$981,700
SALINESALINA, KS$510,400$653,550$789,950$981,700
SCOTTNON-METRO$510,400$653,550$789,950$981,700
SEDGWICKWICHITA, KS$510,400$653,550$789,950$981,700
SEWARDLIBERAL, KS$510,400$653,550$789,950$981,700
SHAWNEETOPEKA, KS$510,400$653,550$789,950$981,700
SHERIDANNON-METRO$510,400$653,550$789,950$981,700
SHERMANNON-METRO$510,400$653,550$789,950$981,700
SMITHNON-METRO$510,400$653,550$789,950$981,700
STAFFORDNON-METRO$510,400$653,550$789,950$981,700
STANTONNON-METRO$510,400$653,550$789,950$981,700
STEVENSNON-METRO$510,400$653,550$789,950$981,700
SUMNERWICHITA, KS$510,400$653,550$789,950$981,700
THOMASNON-METRO$510,400$653,550$789,950$981,700
TREGONON-METRO$510,400$653,550$789,950$981,700
WABAUNSEETOPEKA, KS$510,400$653,550$789,950$981,700
WALLACENON-METRO$510,400$653,550$789,950$981,700
WASHINGTONNON-METRO$510,400$653,550$789,950$981,700
WICHITANON-METRO$510,400$653,550$789,950$981,700
WILSONNON-METRO$510,400$653,550$789,950$981,700
WOODSONNON-METRO$510,400$653,550$789,950$981,700
WYANDOTTEKANSAS CITY, MO-KS$510,400$653,550$789,950$981,700

Kansas conforming limits can change anytime. Check back often to ensure accuracy.

What factors determine if i’m eligible for a Conventional Loan in Kansas?

Kansas Conventional Loan Down PaymentConventional conforming loans follow the terms and conditions set forth by government sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. To be eligible for a Conforming Loan in Kansas, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income. Your credit background will be considered. A FICO credit score of 620 or above is generally required to obtain a conventional loan approval. You must also have enough income to pay your housing costs plus all additional monthly debt.

How much money will I need for the down payment and closing costs?

Conventional home loans require the home buyer to invest between 3% and 20% of the sales price towards the down payment and closing costs. If the sales price is $100,000 for example, the mortgage applicant must invest at least $3,000 – $20,000 to meet conventional mortgage down payment requirements, depending on the program.

Minimum Kansas Conventional Loan Down Payment:

Residence UsageFixed-Rate Mortgage (FRM)Adjustable-Rate Mortgage (ARM)
1 Unit Primary3% Down Payment10% Down Payment
2 Units Primary15% Down Payment25% Down Payment
3 Units Primary25% Down Payment35% Down Payment
4 Units Primary25% Down Payment35% Down Payment
1 Unit Second Home10% Down Payment20% Down Payment
1 Unit Investment15% Down Payment25% Down Payment
2 Units Investment25% Down Payment35% Down Payment
3 Units Investment25% Down Payment35% Down Payment
4 Units Investment25% Down Payment35% Down Payment

What property types are allowed for Conventional Conforming Mortgages?

Conventional mortgage guidelines allow you to purchase
warrantable condos, planned unit developments, modular homes, manufactured homes, and 1-4 family residences. Conventional loans can be used to finance primary residences, second homes and investment property.

Learn more about conventional mortgages.

What types of mortgage and refinance programs do Conventional Loans offer in Kansas?

There are several varieties of standard home purchase, first-time home buyer and conventional refinance loans available in Kansas:

  • Conventional Purchase Loans – Conventional loans offer a variety of programs for applicants with good credit ratings to buy a home. Both 3% down mortgage and 5% down mortgage options are available, however 20% down is the minimum amount required to avoid private mortgage insurance.
  • Conventional Rate/Term Refinance: Conventional Rate/Term refinancing loans are for borrowers who currently have an FHA, VA, USDA or conventional fixed rate mortgage or ARM loan and wish to refinance into a conventional mortgage with a lower interest rate. If you’re a homeowners considering a stable, conventional fixed-rate mortgage, this program may also eliminate your mortgage insurance if you have at 20% equity in your home.  If not, Conventional 97% loan programs may also work for you.
  • Cash-Out Refinance: A Conventional Cash Out Refinance is perfect for the homeowner who wants to access the equity that they have built up in their home. This program is beneficial to homeowners whose property has increased in value since it was purchased.

What factors determine if I am eligible for a Conventional Refinance Loan?

To meet conventional refinance mortgage requirements in Kansas, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income. Your credit background will be considered. You must be able to cover closing costs and have enough income to pay your monthly debt.

Conventional Loan Requirements

More Kansas Mortgage Limits

You may also want to visit these additional home loan resources before deciding on a mortgage program:

 

Get Your Rate Quote
Refinance     Purchase

As seen in: