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Conventional loans are the most popular mortgage type because they often carry lower interest rates and fewer fees. They're a great option for people with good credit and a larger down payment.
Unlike government-backed loan types, such as
For most counties, conforming loan limits are:
for a single-family home or residence
$806,500
for a 2-unit home
$1,032,650
for a 3-unit home
$1,248,150
for a 4-unit home
$1,551,250
For Alaska, Hawaii and other higher-cost real estate markets, like San Francisco and New York City, conforming loan limits are:
for a single-family home or residence
$1,209,750
for a 2-unit home
$1,548,975
for a 3-unit home
$1,872,225
for a 4-unit home
$2,326,875
Because these loan limits can differ from county to county, you should check the
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Requirements
For people looking at homes in higher price ranges and in higher-cost housing markets.
Helpful if you have a lower down payment, are self-employed or don’t qualify for a conventional loan.
Offered to U.S. servicemembers, veterans and military spouses, and are guaranteed by the Department of Veterans Affairs.
Choosing the right type of loan for your needs is an important decision in house-buying.
Your credit score, the type of rate you choose and your location make a difference.
Use our simple home loan amount calculator to figure out how much you can borrow for a loan.