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Conforming Mortgage Limit Calculator

Fannie Mae, Freddie Mac and the Federal Housing Finance Agency (government-sponsored enterprises) set conforming loan amount limits that apply to all lenders. You will typically receive the lowest interest rate for your mortgage if the loan amount is below the conforming mortgage limit for your county. Input your state, county and number of units in the property to determine the conforming mortgage limit in your area

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Points: Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
 
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Principal & Interest: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to the reduction of the principal balance.
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Mortgage Insurance: The monthly cost for a policy that protects the lender in case you’re unable to repay the full amount of the loan. It is typically required for loans that have a loan-to-value ratio between 80% to 100%.
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Homeowner Insurance: or also commonly called hazard insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.lender ...
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Points Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
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Other fees could be either additional Administrative Fees that a lender charges or it could be a Flat Fee to cover all lender charges such as: (Origination Fees, Points, Underwriting and Processing Fees, Credit Reports and Tax Service Fees)

The flat fee does not include prepaid items and third party costs such as appraisal fees, recording fees, prepaid interest, property & transfer taxes, homeowners insurance, borrower’s attorney’s fees, private mortgage insurance premiums (if applicable), survey costs, title insurance and related services.

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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
While we pride ourselves on the quality and breadth of the FREEandCLEAR mortgage calculators please note that they should be used for informational purposes only. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions. Always consult multiple financial professionals when determining the mortgage size and program that is appropriate for you.

What Borrowers Should Know About the Conforming Loan Limit

1

How the Conforming Loan Limit Affects Your Mortgage

The interest rate you pay on your mortgage as as well as other factors such as borrower qualification requirements and mortgage program eligibility depend on the amount of your mortgage.  If your loan amount is below the conforming mortgage limit, you usually receive a lower interest rate, the lender applies more flexible borrower qualification requirements and you are eligible for most low down payment mortgage programs.  If your loan amount is above the conforming loan limit you usually pay a higher interest rate, the lender uses more conservative borrower qualification requirements and you may not be eligible for certain low down payment mortgage programs.

2

Who Sets the Conforming Loan Limits?

The government sets the conforming mortgage limits and there is general limit for moderate cost areas and another limit for high cost areas with higher home prices.  If your loan amount is below the general conforming mortgage limit it is called a conforming loan.  If your loan amount is in between the general conforming mortgage limit and the high cost conforming loan limit it is called a conforming jumbo mortgage.  If your loan amount is above the high cost conforming mortgage limit it is called a non-conforming jumbo mortgage or jumbo loan for short.

3

Conforming Loan Limits Vary by County

Conforming mortgage limits vary by county and by the number of units in the property being financed with single unit properties having the lowest loan limits.  There is one set of mortgage limits for the 48 contiguous United States, Washington D.C. and Puerto Rico and a higher set of loan limits for Alaska, Hawaii, Guam and the U.S. Virgin Islands.  In the contiguous U.S., Washington D.C. and Puerto Rico, the conforming mortgage limit for a single unit property such as a home or condominium ranges from $424,100 to $636,150 in high cost counties.  Generally speaking, lenders refer to $424,100 as the conforming loan limit.  The conforming mortgage limit for a four unit property ranges from $815,650 to $1,223,475 in high cost counties.  In Alaska, Hawaii, Guam and the U.S. Virgin Islands, the conforming mortgage limit for a single unit property ranges from $636,150 to $954,225 in high cost counties and for a four unit property the conforming loan limit ranges from $1,223,475 to $1,835,200.

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By clicking "GET FREE QUOTES," you authorize selected lenders and FREEandCLEAR to contact you using the information you provided. This authorization overrides any previous registrations on federal, state, or private Do Not Call registries or any private solicitation preference you previously expressed. You agree that lenders may use automatic dialing systems to make calls to any phone number entered, even to a cell phone or other service for which the called party is charged. You understand that consent is not a condition of purchase.