THE BENEFITS

Conforming Loans Typically Cost Less

Due to the fact that these loans are eligible to be purchased by Fannie Mae or Freddie Mac, interest rates are typically lower than some government-backed programs. You can also expect to pay less money monthly and on interest in the long run if you are able to put 20% down and avoid private mortgage insurance.

Learn More About The Process in Our Free Guide →

Excited young woman sitting with moving boxes in new home

HOW MUCH HOME CAN I AFFORD?

The Loan Limit Varies Depending on Location

The Federal Housing Finance Agency (FHFA) determines the maximum amount that conforming loans can’t exceed. For 2021, a single-family home qualifies for a conforming loan of up to $726,200 in most areas of the U.S. There are exceptions for areas with high costs of living, so check out the link below to see the loan limits in your area of the country.

See FHFA Loan Limits →

Family standing in front of new home

CHOOSE YOUR RATE STYLE

Fixed or Adjustable Rate Options

With a fixed-rate loan, the interest stays the same over the life of the entire loan. You will make the same interest and principal payments every month. With an adjustable-rate mortgage (ARM), the interest remains the same during a set period of time (typically 5, 7, or 10 years). After that time, the rate could go up or down and the amounts owed each month can change with it.

Senior couple meeting with financial advisor

Our Process

One of our experienced loan officers will help you decide what type of loan best suits your unique situation. The loan officer will discuss the loan process and paperwork needed to secure the loan.

Next, your loan will move into processing. One of our loan analysts will make sure all the paperwork provided is thorough and correct for the loan program.

Next, your loan proceeds to underwriting for a final decision on approving your home loan. Our in-house underwriting team will review all of your documents to ensure all conditions are satisfied. If we need something else, your loan analyst or loan officer will reach out.

Navigating the First-Time Home-Buying Process

Want to learn more about the entire process behind buying a home?

Check out our e-book to learn about the steps of buying a home.

Get the Guide

radius is here to help you

We're licensed in many states across the United States, but loan programs vary from state to state; so talking to a loan officer licensed in your planned state of purchase is a must.

 

Our Loan Officers

What our customers are saying

“

Everything went smoothly and according to plan. My questions were answered in a timely manner and in language I could understand.

Valarie O
Refinance Customer
“

Great staff, always as helpful as they can be and really lovely to work with. Service feels very personal.

Suzanne M
Refinance Customer
“

I found everyone to be very responsive and helpful. Everyone took the time to answer all our questions and concerns.

Rachel A
Purchase Customer

Conforming Loan FAQs

What is the difference between conforming and non-conforming loans?

Conforming loans meet Fannie Mae and Freddie Mac guidelines. Non-conforming loans do not. Those who qualify for a conforming loan can benefit from the lower interests rate. Those who qualify for non-conforming loans can benefit from borrowing more money compared to conforming loans.

What is a conforming loan amount?

A conforming loan is a home loan amount that does not exceed a certain dollar amount.

What is the maximum conforming loan limit?

For most borrowers in the U.S., the maximum conforming loan limit is $548,250. Jumbo loans are available for loans that exceed the conforming loan limit.

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