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Conventional Mortgage

Conventional loans

“Conventional” just means that the loan is not part of a specific government program. Conventional loans typically cost less than FHA loans but can be more difficult to get.

There are two main categories of conventional loans:

Conforming loans

Conforming loans have maximum loan amounts that are set by the government. Other rules for conforming loans are set by Fannie Mae or Freddie Mac, companies that provide backing for conforming loans.

Conventional (conforming)


  • Most common loan type

  • Loan amount must be $726,200 or less in most counties and may be as high as $1,089,300 in high-cost counties.

  • If your down payment is less than 20%, you’ll typically need mortgage insurance


Conforming jumbo 


  • Conforming loan for amounts higher than $726,200

  • Only available in certain counties

  • Maximum loan amount varies by county

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