Conforming Loan Limits – Conventional Loan Limits | 2020

Conventional Loan Limits

The Federal Housing Finance Agency (FHFA) recently announced that 2020 conventional loan limits would be raised to $510,400 for single-family homes.  This increase in conforming loan limits has gone up almost $100,000 since 2016. These limits may be exceeded if the property is located in a high-cost area. Read More

Conventional Loans

The term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency. As a result, conventional loans have long been considered the ‘garden variety’ of mortgage programs. Conventional loans can be either “conforming” or “non-conforming”. Conforming loans are conventional programs that meet or ‘conform’ to guidelines set forth by the Federal Housing Finance Agency (FHFA), as well as the funding criteria for either Fannie Mae and Freddie Mac.

Read More

Conventional Loan Requirements – Conventional Mortgage Guidelines | 2020

Conventional Loan Requirements

What is a Conventional Loan?

A conventional loan by definition is any mortgage not guaranteed or insured by the federal government. Conventional loans can be either “conforming” or “non-conforming”, although conventional loan requirements generally refer to mortgage guidelines that ‘conform’ to government sponsored enterprises (GSE’s) like Fannie Mae or Freddie Mac. Therefore, when you’re searching for more information on ‘conventional loans’, ‘conforming loans’ or ‘conventional conforming loans’, you’re likely referring to the same thing. Read More

As seen in:
CBS Moneywatch CBS News Yahoo News US News AP
Secure EHL