Conforming Loan
Conforming loans have terms and conditions that follow the guidelines set forth by Fannie Mae and Freddie Mac. Fannie Mae and Freddie Mac guidelines establish the maximum loan amount, borrower credit and income requirements, down payment, and suitable properties. Fannie Mae and Freddie Mac announces new loan limits every year.
2007 conforming loan limits
| One-family | Two-family | Three-family | Four-family |
|---|---|---|---|
| Most of US | |||
| $417,000 | $533,850 | $645,300 | $801,950 |
| Alaska, Hawaii, Guam, U.S. Virgin Islands | |||
| $625,500 | $800,775 | $967,950 | $1,202,925 |
