Brian R. Barnes
nmls # 238617
a.k.a 'The Loan Professor'
A Bit About Conforming Loans

Right now the secondary market is shying away from jumbo loans.  To stay within non-jumbo,
conforming loan limits, a single family home must be $417,000 or less.  See below.

Conventional loans may be conforming and non-conforming. Conforming loans have terms and
conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac. These two
stockholder-owned corporations purchase mortgage loans complying with the guidelines from
mortgage lending institutions, packages the mortgages into securities and sell the securities to
investors. By doing so, Fannie Mae and Freddie Mac, like Ginnie Mae, provide a continuous
flow of affordable funds for home financing that results in the availability of mortgage credit for
Americans.

Fannie Mae and Freddie Mac guidelines establish the maximum loan amount, borrower credit
and income requirements, down payment, and suitable properties. Fannie Mae and Freddie
Mac announce new loan limits every year.

The 2007 conforming loan limits for first mortgages remain at the limits set in 2006:

One-family: $417,000
Two-family: $533,850
Three-family: $645,300
Four-family: $801,950
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How Much Can I Borrow?
We have programs for every circumstance

  • Loans Up To % of Value
  • Debt Consolidation Loans
  • Home Remodel / Rehab Loans
  • Senior Options - Reverse Mortgage
  • Real Estate Investor Loans
  • Access Equity For a Major Event or Vacation
  • FHA & FHA Streamline Loans
  • USDA Rural Home Loans - 100 % Financing
How much you can borrow will depend on a number of factors.  

Your debt to income ratio (DTI) is the first consideration.  How much
income you have as opposed to how many monthly debt obligations
you have will determine your DTI.  

How much of a loan you want on your home and how much your home
is currently worth will give us your Loan to Value Ratio or LTV.  Along
with your credit scores and current rates we can determine just how
much money you can qualify for.
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