Conforming Loans

Bank of Internet USA offers low interest rates and flexible terms on Conforming Loans, also known as conventional loans. Both fixed rate and adjustable rate mortgage options can be customized to your unique needs.

Conforming Loan Benefits

A Conforming Loan may be the best mortgage option in your case if you're looking for:

  • A Loan of $453,100 or Less: Conforming Loans fall within the federal lending limit, which is currently $453,100 in most U.S. Counties.
  • Flexible Mortgage Options: You will have both Fixed-Rate and Adjustable-Rate Mortgage (ARM) options open to you.
  • Low Mortgage Rates: Conventional Loans offer some of the lowest fixed interest rates available to consumers.

Call 1.888.546.2634 to speak to a knowledgeable Mortgage Consultant who will customize a Conforming Loan that is just right for you.

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What Is a Conforming Loan?

A Conforming Loan is a mortgage that adheres to guidelines established by Fannie Mae and Freddie Mac. These government-sponsored enterprises, or GSEs, were created by the federal government to help regulate the housing market through the purchase of mortgages from lenders. In order to be eligible for purchase, mortgages must conform to GSE guidelines, including a lending limit that is currently $453,100 in most U.S. counties*.

Conforming loans, widely known as conventional loans, must also be underwritten to meet certain income and asset requirements. As such, they must adhere to the set forth by Fannie Mae and Freddie Mac.

Mortgages that do not conform to GSE guidelines are known as . Examples of Non-Conforming Loans include , , and many .

*Lending limits are higher in Hawaii, Alaska, parts of California, and certain U.S. counties where the cost of living is particularly high. Speak with a for further details.

Types of Conforming Loans

Conforming loans can generally be classified as either :

  • Fixed Rate Loans: Conforming fixed rate loans offer a mortgage rate that does not change for the life of the loan, which is usually either 15 or 30 years. Many borrowers who start with an adjustable rate mortgage later .
  • Adjustable Rate Loans: There are several conforming adjustable rate mortgage (ARM) options available, the most common of which is the 5/1 ARM. During the first five years of the loan, your low mortgage rate will remain fixed. After that, the mortgage rate can change up to once a year over the life of the loan.

Conforming Loans vs. FHA Mortgages

who are searching for a home loan with lower down payment and more flexible eligibility requirements may wish to apply for a . Conforming loans and FHA mortgages each offer unique advantages and disadvantages compared to one another. Our mortgage specialists would be happy to help you and determine which type of mortgage is right for you.

Learn More about Conforming Loans

The may seem complex at first, but with a little expert guidance, you will end up with the perfect mortgage solution. Simply contact Bank of Internet USA today at 1.888.546.2634 to take that first important first step toward .