CONVENTIONAL MORTGAGE LOANS

Conventional Mortgage Loan Guidelines:

• Loan amount maximum for a single-family home is currently $548,250.00.
• Purchase a primary residence, second home, or rental property.
• Available in fixe, ARM loan terms usually from 15 to 30 years
• Maximum loan to value ratio is 96.5%
• Good credit scores are required.

Jumbo Loans

Jumbo Loans are mortgages that do not fit in the Fannie Mae and Freddie Mac guidelines because the
amount financed for a single-family home exceeds the regulated loan limits for a secondary market
loan.

Non-Qualified Mortgage Loans:

A Non-QM loan is simply a loan that does not fit into the complex rules associated with a Qualified
Mortgage loan programs. Because the rules and scrutiny associated with Non-Prime lending, banks
can choose to keep these loans instead of selling them to other investors.