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Conforming

Conforming Loans

This is the most common, most used, most popular type loan program. This simply implies two things about a loan: First, that the maximum loan size is $417,000. And Second, that the loan has been originated in a manner that makes it eligible for sale to the two Government Service Entities (GSE’s) commonly called Freddie Mac and Fannie Mae. The minimum downpayment is 3%. However the more common loan programs will require a minimum of 5% downpayment. This product is available for both Primary residences and Residential Investment property as well as owner occupied second homes (Mainly vacation homes).

 

What people are saying

Recently I was a client of Laura McGoogan’s at Mortgage Choice, and I found her to be knowledgeable, personable and easy to work with. She is also patient and answered all my questions and was always willing to provide details about options. She stayed on top of all the details and always kept me informed through every step of the process. She has a nifty tool on her phone to send out pre-qual letters without needing much notice, even if you need one on a Sunday. I recommend her to anyone who looking for a mortgage broker.


Michelle