Conventional Loans
Conventional loans are secured by government sponsored entities such as Fannie Mae and Freddie Mac. Conventional loans can be used to purchase or refinance single family to four family homes.
In general, Fannie Mae and Freddie Mac's single family, first mortgage loan limit is $417,000. This limit is assessed annually and, if needed, updated to reflect changes in the national average price for single family homes. The existing loan limit applies to all conventional mortgages delivered after January 1, 2007.