Open Mon-Fri: 8 am - 5 pm

نتحدث العربيه

(832) 551-1001

Open Mon-Fri: 8 am - 5 pm

نتحدث العربيه

(832) 551-1001

Conforming Loans

What is it?

A Conforming Loan is a mortgage loan that corresponds to special lending terms, requirements, and guidelines established by government-sponsored enterprises like the Federal National Mortgage Association (Fannie Mae).

Program Details:

Right now, a Conforming Loan maximum on a single-family home must fall under $548,250. In some counties, the loan value can be as much as $625,500 for 1 unit property.

Benefits of a Conforming Loan:

Miscellaneous- 249_Expanded

Standardized Guidelines

A Conforming Loan has regulated guidelines, meaning you will be protected from lenders ' poor lending practices. 

Lower Interest Rate.

Typically, Conforming Loans give a lower interest rate to borrowers with high credit scores. 

Offered by Different Lenders

Conforming Loans are given by many lenders, enabling you to compare services and prices.

Lower Monthly Payments

With lower monthly payments, you will spend less money over the life of the loan.

Documents Needed:

    Income Tax Returns, W-2 & 1099 Statements, and Pay-Check Stubs
    Self-Employed Income Tax Returns and YTD Profit & Loss Statements for self-employed borrowers
    Retirement account statements, 401k, Mutual Funds, Money Market, Stocks, etc. 
    Drivers License, Social Security Card, Any Divorce, Palimony or Alimony or Child Support papers, Green Card or Work Permit if applicable, Any homeownership papers
    Bank and Credit Card statements
    Gift letters
    Renting history