Conventional Conforming Mortgage Loans

Conventional mortgage loans are those mortgages that are not insured or guaranteed by the Federal Housing Administration, the U.S. Department of Veterans Affairs, or the U.S. Department of Agriculture and meet the Enterprises’ underwriting standards. Conforming mortgage loans have original balances below a specific threshold, set by law and published by FHFA, known as the “conforming loan limit.” For 2011, the conforming loan limit is $417,000 for most areas of the contiguous United Sates, although higher limits apply in specific areas.