Conforming High Balance – Everything You Need To Know
MORTGAGE-WORLD.com is your Conforming High-Balance loan experts with over 20 years of experience originating Conforming High-Balance loans. Since 2008 we have specialized in loans for borrowers with less than perfect credit.
YOUR FANNIE MAE LENDER
Conforming High Balance
- Purchases up to 90% LTV
- Minimum credit score of 680
- First time home buyers are allowed
- Eligible for primary and second homes
- Loan amounts from $453,101–$679,650
- Better rates, easier guidelines and faster turn times than Jumbo
The Federal Housing Finance Agency (FHFA) publishes annual conforming loan limits that apply to all conventional mortgages delivered to Fannie Mae, including general loan limits and the high-cost area loan limits. High-cost area loan limits vary by geographic location.
Conforming High Balance Loan Limits
Maximum Loan Amount for 2019
| Units | Contiguous States | Alaska, Hawaii | ||
|---|---|---|---|---|
| 1 | $484,350 | $726,525 | ||
| 2 | $620,200 | $930,300 | ||
| 3 | $749,650 |
|
||
| 4 | $931,600 |
|
Maximum Loan Limit High-Cost Areas for 2019
| Units | Contiguous States | Alaska, Hawaii | ||
|---|---|---|---|---|
| 1 |
|
$1,019,475 | ||
| 2 | $930,300 | $1,305,325 | ||
| 3 |
|
$1,577,800 | ||
| 4 | $1,397,400 | $1,960,750 |
A High-Balance mortgage loan is defined as a conventional mortgage where the original loan amount exceeds the conforming loan limit published yearly by the Federal Housing Finance Agency (FHFA) but does not exceed the limit for high-cost area in which the mortgage property is located, as specified by FHFA. The conforming limit is $484,350 and the high cost are is $726,525 for a 1-unit dwelling in the continental US.
Every borrower on a High-Balance mortgage loan must have a valid FICO score based on established credit history. The use of alternative credit references is not allowed in lieu of a valid FICO score based on established credit history.
High-cost counties in other states may also be eligible for the higher loan limit of $726,525.
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