Conforming Loans

Conforming Mortgage Loans

These loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC). Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community. Lake Oswego fixed mortgage conforming

Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans. Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.

Fannie Mae also offers HomeReady low-down payment financing with reduced rates and PMI only requiring 3% down.  Freddie Mac also offers a Home Possible program with similar features.  You can check details of these affordable programs HERE

Conforming Loan Limits HERE (if above these amounts, see JUMBO mortgage section)

OREGON – 2017 Conforming Loan Limits

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2

3

4

$424,100

$543,000

$656,350

$815,650

Washington – 2017 Conforming Loan Limits (High-Balance Applies)

King County, Snohomish County and Pierce County

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2

3

4

$592,250

$758,200

$916,450

$1,138,950

San Juan County

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2

3

4

$483,000

$618,300

$747,400

$928,850

Adams, Asotin, Benton, Chelan, Clallam, Clark, Columbia, Cowlitz, Douglas, Ferry, Franklin, Garfield, Grant, Grays Harbor, Island, Jefferson, Kitsap, Kittatas, Klickitat, Lewis, Mason, Okanogan, Pacific, Pend Oreille, Skagit, Skamania, Spokane, Stevens, Thurston, Wahkiakum, Walla Walla, Whatcom, Whitman and Yakima Counties

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2

3

4

$424,100

$587,400

$710,050

$882,400

Vantage Mortgage Group specializes in Conforming borrowers and has excellent low rates for our conforming clients. Please see your Loan Consultant for more information and a rate quote.