Conventional
General Loan Limits for 2019
| Units | Contiguous States | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
|---|---|---|
| 1 | $484,350 | $726,525 |
| 2 | $620,200 | $930,300 |
| 3 | $749,650 | $1,124,475 |
| 4 | $931,600 | $1,397,400 |
Jumbo
Borrowers who wish to obtain a mortgage loan in an amount that exceeds the 2019 conforming limits still have options. When a home loan exceeds the caps set by the Federal Housing Finance Agency, it is referred to as a “jumbo” mortgage product, and it cannot be sold to Fannie Mae or Freddie Mac.
FHA
An FHA loan is a mortgage loan that is insured by the Federal Housing Administration (FHA). Borrowers can qualify for an FHA loan with a down payment as little as 3.5%.
VA
Borrowers who can provide evidence of eligibility may qualify for a Veterans Administration (VA) loan. This loan may be in amount of up to 100% of the conventional conforming limit. STELLAR is able to offer a VA Jumbo, which will allow the borrower to exceed the conforming limit. Call us for more information if your need exceed current conforming limits.