Conforming Loans

Conforming Loans:

The professionals at Advanced Mortgage Solutions LLC are the local experts on conforming mortgage loans in Golden, CO. We help connect homebuyers from all walks of life with the financing they need to make their dreams of homeownership a reality. So if you’re ready to experience the benefits of homeownership in Golden, CO, it’s time to find out whether you qualify for a conforming loan. Call the mortgage experts at Advanced Mortgage Solutions LLC today to learn more about conforming loans and to set your financing in motion.
 

Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community. Every year, form October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.

Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.

Conforming Loan Limits:

Number of Units Maximum original principal balance Alaska, Guam, Hawaii, and U.S. Virgin Islands only
1 $417,000 $625,500
2 $533,850 $800,775
3 $645,300 $967,950
4 $801,950 $1,202,925

NOTE: The conforming loan limit in Alaska, Hawaii, Guam and the Virgin Islands is 50% higher.