Conventional Mortgage

Conventional Fixed-Rate loans have terms and conditions that follow the guidelines set by the agencies, Fannie Mae and Freddie Mac. These guidelines establish the maximum loan amount as well as borrower credit and income requirements, down payment, and suitable properties. Each year, Fannie Mae and Freddie Mac announce new conforming loan limits, which, for 2023 the baseline conforming loan limit is $726,200 (except for Hawaii, Alaska, and a few federally designated high-cost markets, where the limit is $1,089,300). Reach out to your Loan Originator to learn more about confirming loan limits and what they mean to you.

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