Conforming Loan Programs

Conforming home loans are those that meet more rigid requirements that must adhere to standards set by Freddie Mac and Fannie Mae. The limit on a conforming loan is $417,000 (for information about the increase to $729,500, please contact us).

Below are standard loan programs that you can apply for on the conforming loan market.

30 year fixed mortgage

Always the most popular program, the 30 year fixed loan is a great option for those who want stability and no risk. We consistently offer this program at a discounted rate compared to the market average.

15 year fixed mortgage

This program isn't for everyone, but it can be perfect for the right borrower. You never have to worry about your rate changing. It has the same stability as a 30 year fixed loan with fewer years to pay it off.

5/1 ARM mortgage

The 5/1 ARM is a popular program. It delivers lower short term rates (fixed for 5 years) before adjusting to market conditions later on. A lot of people choose this option because they don't plan on owning the house long enough to justify a higher, long-term fixed rate.

7/1 ARM mortgage

The same principles apply to this program as with the 5/1 and 10/1 ARM. The difference is you have some extra years to retain the lower initial fixed rate. The rates starts a little higher than the 5/1 ARM.

10/1 ARM jumbo mortgage

You probably can guess the deal with the 10/1 ARM. It carries a fixed rate for 10 years before adjusting to current market conditions.

Interest-only options

Just about any program can come with interest-only as an option. What it does is allow you to pay just the interest on the loan for a set number of years. For instance you could get an interest-only jumbo loan that is fixed for 30 years, but only requires interest-only payments for the first ten. Generally, this will require a slightly higher rate, but ask us and we can find the right terms for you.

*All posted rates are based on certain criteria that a borrower must meet to qualify. Your situation will dicate the actual rate you are eligible for. To obtain an accurate quote that fits your situation, please fill out the quote request form or call us during business hours. Conforming APRs are calculated based on $400,000 loan amount, Jumbo APRs are based on $500,000 loan amounts.
**Conforming loans are defined as $417,000 and below. Jumbo loans have loan amounts above $417,000. The maximum loan amount on a jumbo varies.
***APRs on adjustable rate mortgages are calculated based on the fixed portion of the loan only.

30yr Fixed Conf
Rate	APR
4.000%	4.176%

5/1 ARM Conf
Rate	APR
3.000%	3.159%
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