Conforming Mortgage

A mortgage loan that meets the guidelines set by FNMA and FHLMC (Fannie Mae and Freddie Mac.) As of 2006 (through 2009) the loans must not exceed $417,000 to be considered conforming loans. Mortgage loans with higher amounts are referred to as Jumbo Loans or Nonconforming Loans and usually carry higher interest rates.

Units	Contiguous States, District of Columbia, and Puerto Rico		Alaska, Guam, Hawaii, and the U.S. Virgin Islands
	General	High-Cost*	General	High-Cost*
One	$417,000	$625,500	$625,500	$938,250
Two	$533,850	$800,775	$800,775	$1,201,150
Three	$645,300	$967,950	$967,950	$1,451,925
Four	$801,950	$1,202,925	$1,202,925	$1,804,375

* The loan limit may be lower for a specific high-cost area

References

Guttentag, Jack. "Mortgage Glossary". 2008 <http://www.mtgprofessor.com/glossary.htm>.

"Loan Limits for Conventional Mortgages". 2008 <https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0829.pdf>.

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