Stewart Brown Jr – Mortgage Loan Originator – Purchase or Refinance
| A high-balance loan — also referred to as a conforming high-balance loan or a super-conforming loan – is given to home buyers in high-income areas. It exceeds national conventional loan limits but meets local loan limits. Unlike jumbo loans, high-balance loans are backed by Fannie Mae and Freddie Mac. High-balance loans vary by county, and limits are set by the Federal Housing Finance Agency (FHFA). If you’re looking for a home in a high-income area, you may qualify for a high-balance loan. In this post, we’ll cover everything you need to know about high-balance loans.
In most of the U.S., the 2023 maximum conforming loan limit (CLL) for one-unit properties is $726,200. The maximum conforming loan limit does vary from county to county and may be higher depending on median home value. In counties where 115% of the local median home value exceeds the baseline CLL, the maximum loan limit will be higher than the baseline loan limit. |
| A high-balance loan — also referred to as a conforming high-balance loan or a super-conforming loan – is given to home buyers in high-income areas. It exceeds national conventional loan limits but meets local loan limits. Unlike jumbo loans, high-balance loans are backed by Fannie Mae and Freddie Mac. High-balance loans vary by county, and limits are set by the Federal Housing Finance Agency (FHFA). If you’re looking for a home in a high-income area, you may qualify for a high-balance loan. In this post, we’ll cover everything you need to know about high-balance loans.
In most of the U.S., the 2023 maximum conforming loan limit (CLL) for one-unit properties is $726,200. The maximum conforming loan limit does vary from county to county and may be higher depending on median home value. In counties where 115% of the local median home value exceeds the baseline CLL, the maximum loan limit will be higher than the baseline loan limit. |
Reach out to me for further detailed information on High Balance loan programs.