Conforming or not
A conforming loan must meet Fannie Mae or Freddie Mac requirements and the applicable FHFA loan limit.
Conventional does not mean one-size-fits-all.
Loan limits, down payment, mortgage insurance, property type and underwriting all shape the offer. A useful comparison puts the same loan amount and goals side by side.
Down payment
Certain conforming programs permit low down payments, but availability depends on the borrower and transaction.
Mortgage insurance
A conventional purchase with less than 20% down commonly includes private mortgage insurance and its own cancellation rules.
Offer comparison
Review rate, APR, points, fees, mortgage insurance, cash to close and the five-year borrowing cost.
A clearer way to compare the real options.
You do not need to arrive with a program selected. Begin with the outcome you want and let the documentation and numbers narrow the path.
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Start with the goal
Share the property, timing, monthly comfort zone and the question you are trying to solve.
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Use the right records
Bill identifies which income, asset and property documents matter for the paths worth exploring.
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Compare the complete loan
Review payment, cash to close, rate behavior, fees and longer-term tradeoffs before choosing a direction.
Questions worth answering early.
These answers explain the general framework. Your actual eligibility and terms depend on the borrower, property, lender and current program rules.
Browse All Mortgage FAQsIt is not insured or guaranteed through a federal program such as FHA, VA or USDA.
No. They may conform to Fannie Mae or Freddie Mac requirements or be non-conforming, including jumbo and other lender-specific products.
It varies. Some conforming programs allow as little as 3% down, while other transactions or borrower profiles require more.
It is commonly required when a conventional purchase has less than 20% down. The cost, form and cancellation rules vary by loan.
Learn from the official guidance.
Program rules change. These government and agency resources are the basis for the general information on this page.
Loan programs, rates, terms, documentation requirements and eligibility are subject to change and vary by lender, borrower, property, occupancy, loan purpose and applicable law. This information is educational and is not a commitment to lend. Contact Bill for a personalized review of available options.
Start with your situation, not a label.
Bill will listen to the goal, explain what information is useful and help you compare the next steps without pressure.