The Conforming limit is a mortgage amount set by Congress and is the maximum loan size eligible for purchase by either Fannie Mae or Freddie Mac, two Federally charted organizations who purchase the underlying securities from mortgage originators.  

     Conforming loans are traditional loan programs that usually require 5% down and offer competive interest rates.  Documentation and fair-to-good credit are necessary.  Loan limits go up to $417,000 for a Conforming Loan.  Any loan amount above that figure is considered a Jumbo loan and is often subject to an interest rate pricing premium as well as to some additional underwriting restrictions.  A common strategy to lower overall interest costs if your purchase or refinance balance is above $417,000 is to use a combination of both first and second trust money, referred to as an 80/10/10, 80/15/5 or 80/20.  Every situation is different, but it is one more option to consider.

    We offer you the ability to qualify and to accommodate borrowers with non traditional income or asset situations.

    Many clients are converting from fully amortizing payments to an interest only approach with a significantly lower monthly payment.  Call us now or fill out the short and simple application with the specifics of your situation. 

    We are # 1 for all the Rate Reasons!