Conforming loans are conventional home loans that meet bank-funding criteria set by Fannie Mae and Freddie Mac. Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community. Every year, from October to October, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.
- Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.
Fresno Conforming Loan Limits:
Number of Units - Maximum original loan amount 1 $647,200 2 $828,700 3 $1,001,650 4 $1,244,850
We are a direct lender for Conforming Loans. As a mortgage banker we underwrite and fund our client’s loans which gives us more control over the home loan and the home loan process. This enables us to provide more efficient service. Mortgage brokers have to depend on another mortgage lender to underwrite and fund their loans. They have no control over the home loan process once the file goes to underwriting. Kings Mortgage has been in business for 20 years and I have been in the mortgage business for over a 11 years.
Although we do refinances, we specialize in purchase loans and provide service second to none. Contact me for a free no obligation consultation. We can do your loan totally online or you can call me for an appointment to meet me in person. Apply Now to start the home loan process. No upfront costs for pre-approvals.
Even though we mainly do Conforming Home Loans in Fresno CA, Clovis CA, Madera CA, and Sanger CA, we are able to serve the entire state of California.