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. Missouri conventional loans may be either “conforming” and “non-conforming”, although ‘conventional loans’ generally refer to ‘conforming loans’. Therefore Missouri conventional loan limits are the same thing as Missouri conforming loan limits.

Missouri Conventional Loan Limits

What is the maximum amount that I can borrow?

Conventional loan limits in Missouri are determined by:

  • Missouri 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 Missouri are set at the floor amount of $424,100 across the entire state. Metro areas in MO with a conforming limit of $424,100 include St. Louis, Columbia, Kansas City, Branson and Jefferson City.

Search all Conventional Loan Limits in Missouri:

County Name
Area
1-Unit
2-Unit
3-Unit
4-Unit
ADAIRKIRKSVILLE, MO$424,100$543,000$656,350$815,650
ANDREWST. JOSEPH, MO-KS$424,100$543,000$656,350$815,650
ATCHISONNON-METRO$424,100$543,000$656,350$815,650
AUDRAINMEXICO, MO$424,100$543,000$656,350$815,650
BARRYNON-METRO$424,100$543,000$656,350$815,650
BARTONNON-METRO$424,100$543,000$656,350$815,650
BATESKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
BENTONNON-METRO$424,100$543,000$656,350$815,650
BOLLINGERCAPE GIRARDEAU, MO-IL$424,100$543,000$656,350$815,650
BOONECOLUMBIA, MO$424,100$543,000$656,350$815,650
BUCHANANST. JOSEPH, MO-KS$424,100$543,000$656,350$815,650
BUTLERPOPLAR BLUFF, MO$424,100$543,000$656,350$815,650
CALDWELLKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
CALLAWAYJEFFERSON CITY, MO$424,100$543,000$656,350$815,650
CAMDENNON-METRO$424,100$543,000$656,350$815,650
CAPE GIRARDEAUCAPE GIRARDEAU, MO-IL$424,100$543,000$656,350$815,650
CARROLLNON-METRO$424,100$543,000$656,350$815,650
CARTERNON-METRO$424,100$543,000$656,350$815,650
CASSKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
CEDARNON-METRO$424,100$543,000$656,350$815,650
CHARITONNON-METRO$424,100$543,000$656,350$815,650
CHRISTIANSPRINGFIELD, MO$424,100$543,000$656,350$815,650
CLARKFORT MADISON-KEOKUK, IA-IL-MO$424,100$543,000$656,350$815,650
CLAYKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
CLINTONKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
COLEJEFFERSON CITY, MO$424,100$543,000$656,350$815,650
COOPERNON-METRO$424,100$543,000$656,350$815,650
CRAWFORDNON-METRO$424,100$543,000$656,350$815,650
DADENON-METRO$424,100$543,000$656,350$815,650
DALLASSPRINGFIELD, MO$424,100$543,000$656,350$815,650
DAVIESSNON-METRO$424,100$543,000$656,350$815,650
DE KALBST. JOSEPH, MO-KS$424,100$543,000$656,350$815,650
DENTNON-METRO$424,100$543,000$656,350$815,650
DOUGLASNON-METRO$424,100$543,000$656,350$815,650
DUNKLINKENNETT, MO$424,100$543,000$656,350$815,650
FRANKLINST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
GASCONADENON-METRO$424,100$543,000$656,350$815,650
GENTRYNON-METRO$424,100$543,000$656,350$815,650
GREENESPRINGFIELD, MO$424,100$543,000$656,350$815,650
GRUNDYNON-METRO$424,100$543,000$656,350$815,650
HARRISONNON-METRO$424,100$543,000$656,350$815,650
HENRYNON-METRO$424,100$543,000$656,350$815,650
HICKORYNON-METRO$424,100$543,000$656,350$815,650
HOLTNON-METRO$424,100$543,000$656,350$815,650
HOWARDNON-METRO$424,100$543,000$656,350$815,650
HOWELLWEST PLAINS, MO$424,100$543,000$656,350$815,650
IRONNON-METRO$424,100$543,000$656,350$815,650
JACKSONKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
JASPERJOPLIN, MO$424,100$543,000$656,350$815,650
JEFFERSONST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
JOHNSONWARRENSBURG, MO$424,100$543,000$656,350$815,650
KNOXNON-METRO$424,100$543,000$656,350$815,650
LACLEDELEBANON, MO$424,100$543,000$656,350$815,650
LAFAYETTEKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
LAWRENCENON-METRO$424,100$543,000$656,350$815,650
LEWISQUINCY, IL-MO$424,100$543,000$656,350$815,650
LINCOLNST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
LINNNON-METRO$424,100$543,000$656,350$815,650
LIVINGSTONNON-METRO$424,100$543,000$656,350$815,650
MACONNON-METRO$424,100$543,000$656,350$815,650
MADISONNON-METRO$424,100$543,000$656,350$815,650
MARIESNON-METRO$424,100$543,000$656,350$815,650
MARIONHANNIBAL, MO$424,100$543,000$656,350$815,650
MCDONALDFAYETTEVILLE-SPRINGDALE-ROGERS, AR-MO$424,100$543,000$656,350$815,650
MERCERNON-METRO$424,100$543,000$656,350$815,650
MILLERNON-METRO$424,100$543,000$656,350$815,650
MISSISSIPPINON-METRO$424,100$543,000$656,350$815,650
MONITEAUJEFFERSON CITY, MO$424,100$543,000$656,350$815,650
MONROENON-METRO$424,100$543,000$656,350$815,650
MONTGOMERYNON-METRO$424,100$543,000$656,350$815,650
MORGANNON-METRO$424,100$543,000$656,350$815,650
NEW MADRIDNON-METRO$424,100$543,000$656,350$815,650
NEWTONJOPLIN, MO$424,100$543,000$656,350$815,650
NODAWAYMARYVILLE, MO$424,100$543,000$656,350$815,650
OREGONNON-METRO$424,100$543,000$656,350$815,650
OSAGEJEFFERSON CITY, MO$424,100$543,000$656,350$815,650
OZARKNON-METRO$424,100$543,000$656,350$815,650
PEMISCOTNON-METRO$424,100$543,000$656,350$815,650
PERRYNON-METRO$424,100$543,000$656,350$815,650
PETTISSEDALIA, MO$424,100$543,000$656,350$815,650
PHELPSROLLA, MO$424,100$543,000$656,350$815,650
PIKENON-METRO$424,100$543,000$656,350$815,650
PLATTEKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
POLKSPRINGFIELD, MO$424,100$543,000$656,350$815,650
PULASKIFORT LEONARD WOOD, MO$424,100$543,000$656,350$815,650
PUTNAMNON-METRO$424,100$543,000$656,350$815,650
RALLSHANNIBAL, MO$424,100$543,000$656,350$815,650
RANDOLPHMOBERLY, MO$424,100$543,000$656,350$815,650
RAYKANSAS CITY, MO-KS$424,100$543,000$656,350$815,650
REYNOLDSNON-METRO$424,100$543,000$656,350$815,650
RIPLEYNON-METRO$424,100$543,000$656,350$815,650
SALINEMARSHALL, MO$424,100$543,000$656,350$815,650
SCHUYLERKIRKSVILLE, MO$424,100$543,000$656,350$815,650
SCOTLANDNON-METRO$424,100$543,000$656,350$815,650
SCOTTSIKESTON, MO$424,100$543,000$656,350$815,650
SHANNONNON-METRO$424,100$543,000$656,350$815,650
SHELBYNON-METRO$424,100$543,000$656,350$815,650
ST. CHARLESST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
ST. CLAIRNON-METRO$424,100$543,000$656,350$815,650
ST. FRANCOISFARMINGTON, MO$424,100$543,000$656,350$815,650
ST. LOUISST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
ST. LOUIS CITYST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
STE. GENEVIEVENON-METRO$424,100$543,000$656,350$815,650
STODDARDNON-METRO$424,100$543,000$656,350$815,650
STONEBRANSON, MO$424,100$543,000$656,350$815,650
SULLIVANNON-METRO$424,100$543,000$656,350$815,650
TANEYBRANSON, MO$424,100$543,000$656,350$815,650
TEXASNON-METRO$424,100$543,000$656,350$815,650
VERNONNON-METRO$424,100$543,000$656,350$815,650
WARRENST. LOUIS, MO-IL$424,100$543,000$656,350$815,650
WASHINGTONNON-METRO$424,100$543,000$656,350$815,650
WAYNENON-METRO$424,100$543,000$656,350$815,650
WEBSTERSPRINGFIELD, MO$424,100$543,000$656,350$815,650
WORTHNON-METRO$424,100$543,000$656,350$815,650
WRIGHTNON-METRO$424,100$543,000$656,350$815,650

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

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

Conventional 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 Missouri, 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 Missouri 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?

MO Conventional mortgage requirementsConventional 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 Missouri?

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

  • 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 Missouri, 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 Missouri Mortgage Limits

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

 

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