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$424,100$543,000$656,350$815,650
ANDERSONNON-METRO$424,100$543,000$656,350$815,650
ATCHISONATCHISON, KS$424,100$543,000$656,350$815,650
BARBERNON-METRO$424,100$543,000$656,350$815,650
BARTONGREAT BEND, KS$424,100$543,000$656,350$815,650
BOURBONNON-METRO$424,100$543,000$656,350$815,650
BROWNNON-METRO$424,100$543,000$656,350$815,650
BUTLERWICHITA, KS$424,100$543,000$656,350$815,650
CHASENON-METRO$424,100$543,000$656,350$815,650
CHAUTAUQUANON-METRO$424,100$543,000$656,350$815,650
CHEROKEENON-METRO$424,100$543,000$656,350$815,650
CHEYENNENON-METRO$424,100$543,000$656,350$815,650
CLARKNON-METRO$424,100$543,000$656,350$815,650
CLAYNON-METRO$424,100$543,000$656,350$815,650
CLOUDNON-METRO$424,100$543,000$656,350$815,650
COFFEYNON-METRO$424,100$543,000$656,350$815,650
COMANCHENON-METRO$424,100$543,000$656,350$815,650
COWLEYARKANSAS CITY-WINFIELD, KS$424,100$543,000$656,350$815,650
CRAWFORDPITTSBURG, KS$424,100$543,000$656,350$815,650
DECATURNON-METRO$424,100$543,000$656,350$815,650
DICKINSONNON-METRO$424,100$543,000$656,350$815,650
DONIPHANST. JOSEPH, MO-KS$424,100$543,000$656,350$815,650
DOUGLASLAWRENCE, KS$424,100$543,000$656,350$815,650
EDWARDSNON-METRO$424,100$543,000$656,350$815,650
ELKNON-METRO$424,100$543,000$656,350$815,650
ELLISHAYS, KS$424,100$543,000$656,350$815,650
ELLSWORTHNON-METRO$424,100$543,000$656,350$815,650
FINNEYGARDEN CITY, KS$424,100$543,000$656,350$815,650
FORDDODGE CITY, KS$424,100$543,000$656,350$815,650
FRANKLINOTTAWA, KS$424,100$543,000$656,350$815,650
GEARYJUNCTION CITY, KS$424,100$543,000$656,350$815,650
GOVENON-METRO$424,100$543,000$656,350$815,650
GRAHAMNON-METRO$424,100$543,000$656,350$815,650
GRANTNON-METRO$424,100$543,000$656,350$815,650
GRAYNON-METRO$424,100$543,000$656,350$815,650
GREELEYNON-METRO$424,100$543,000$656,350$815,650
GREENWOODNON-METRO$424,100$543,000$656,350$815,650
HAMILTONNON-METRO$424,100$543,000$656,350$815,650
HARPERNON-METRO$424,100$543,000$656,350$815,650
HARVEYWICHITA, KS$424,100$543,000$656,350$815,650
HASKELLNON-METRO$424,100$543,000$656,350$815,650
HODGEMANNON-METRO$424,100$543,000$656,350$815,650
JACKSONTOPEKA, KS$424,100$543,000$656,350$815,650
JEFFERSONTOPEKA, KS$424,100$543,000$656,350$815,650
JEWELLNON-METRO$424,100$543,000$656,350$815,650
JOHNSONKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
KEARNYGARDEN CITY, KS$424,100$543,000$656,350$815,650
KINGMANWICHITA, KS$424,100$543,000$656,350$815,650
KIOWANON-METRO$424,100$543,000$656,350$815,650
LABETTEPARSONS, KS$424,100$543,000$656,350$815,650
LANENON-METRO$424,100$543,000$656,350$815,650
LEAVENWORTHKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
LINCOLNNON-METRO$424,100$543,000$656,350$815,650
LINNKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
LOGANNON-METRO$424,100$543,000$656,350$815,650
LYONEMPORIA, KS$424,100$543,000$656,350$815,650
MARIONNON-METRO$424,100$543,000$656,350$815,650
MARSHALLNON-METRO$424,100$543,000$656,350$815,650
MCPHERSONMCPHERSON, KS$424,100$543,000$656,350$815,650
MEADENON-METRO$424,100$543,000$656,350$815,650
MIAMIKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
MITCHELLNON-METRO$424,100$543,000$656,350$815,650
MONTGOMERYCOFFEYVILLE, KS$424,100$543,000$656,350$815,650
MORRISNON-METRO$424,100$543,000$656,350$815,650
MORTONNON-METRO$424,100$543,000$656,350$815,650
NEMAHANON-METRO$424,100$543,000$656,350$815,650
NEOSHONON-METRO$424,100$543,000$656,350$815,650
NESSNON-METRO$424,100$543,000$656,350$815,650
NORTONNON-METRO$424,100$543,000$656,350$815,650
OSAGETOPEKA, KS$424,100$543,000$656,350$815,650
OSBORNENON-METRO$424,100$543,000$656,350$815,650
OTTAWASALINA, KS$424,100$543,000$656,350$815,650
PAWNEENON-METRO$424,100$543,000$656,350$815,650
PHILLIPSNON-METRO$424,100$543,000$656,350$815,650
POTTAWATOMIEMANHATTAN, KS$424,100$543,000$656,350$815,650
PRATTNON-METRO$424,100$543,000$656,350$815,650
RAWLINSNON-METRO$424,100$543,000$656,350$815,650
RENOHUTCHINSON, KS$424,100$543,000$656,350$815,650
REPUBLICNON-METRO$424,100$543,000$656,350$815,650
RICENON-METRO$424,100$543,000$656,350$815,650
RILEYMANHATTAN, KS$424,100$543,000$656,350$815,650
ROOKSNON-METRO$424,100$543,000$656,350$815,650
RUSHNON-METRO$424,100$543,000$656,350$815,650
RUSSELLNON-METRO$424,100$543,000$656,350$815,650
SALINESALINA, KS$424,100$543,000$656,350$815,650
SCOTTNON-METRO$424,100$543,000$656,350$815,650
SEDGWICKWICHITA, KS$424,100$543,000$656,350$815,650
SEWARDLIBERAL, KS$424,100$543,000$656,350$815,650
SHAWNEETOPEKA, KS$424,100$543,000$656,350$815,650
SHERIDANNON-METRO$424,100$543,000$656,350$815,650
SHERMANNON-METRO$424,100$543,000$656,350$815,650
SMITHNON-METRO$424,100$543,000$656,350$815,650
STAFFORDNON-METRO$424,100$543,000$656,350$815,650
STANTONNON-METRO$424,100$543,000$656,350$815,650
STEVENSNON-METRO$424,100$543,000$656,350$815,650
SUMNERWICHITA, KS$424,100$543,000$656,350$815,650
THOMASNON-METRO$424,100$543,000$656,350$815,650
TREGONON-METRO$424,100$543,000$656,350$815,650
WABAUNSEETOPEKA, KS$424,100$543,000$656,350$815,650
WALLACENON-METRO$424,100$543,000$656,350$815,650
WASHINGTONNON-METRO$424,100$543,000$656,350$815,650
WICHITANON-METRO$424,100$543,000$656,350$815,650
WILSONNON-METRO$424,100$543,000$656,350$815,650
WOODSONNON-METRO$424,100$543,000$656,350$815,650
WYANDOTTEKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650

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:

 

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