Conventional Loan

A conventional loan is a type of loan that is not offered or secured by a government entity like the FHA or VA. Instead, these loans are made available by government-sponsored enterprises Fannie Mae and Freddie Mac. Current conventional limits for 2020 are:


Maximum Loan Amount for 2020

UnitsContiguous States, District of Columbia, and Puerto RicoAlaska, Guam, Hawaii, and the U.S. Virgin Islands

High Balance Loan

For high-cost areas, potential homeowners can still utilize the benefits of a conventional loan rather than going into a Jumbo Loan Program.

You can look up maximum loan limits using the link:


Maximum Loan Amount for High-Cost Areas for 2020

UnitsContiguous States, District of Columbia+Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1$822,375Not Applicable
2$1,053,000Not Applicable
3$1,272,750Not Applicable
4$1,581,750Not Applicable

Jumbo Loan

For higher mortgage amounts above conventional limits, home buyers may need to go with a jumbo mortgage for financing. Since they are portfolio loans from banks and private lenders, they come with unique underwriting requirements.

FHA Loan

FHA loan is insured by the Federal Housing Administration and mostly suitable for low-to-moderate income borrowers with lower down payment and/or less than perfect credit scores.

VA Loan

VA Loan is a program established by the United State Department of Veterans Affairs to help veterans and their families purchase homes with no down payment requirements. Borrowers must obtain Certificate of Eligibility from VA to apply for the loan.

Stated Income Loan

For more complexed income situations, we offer products without verifying tax returns. With alternate income documents like P&L statements, Verification of Employments, etc., you can still get a mortgage with larger down payments and good credit scores.

Foreign National Loan

You can still buy homes in the United States even though you are not a US citizen. With higher down payments, we allow foreign income and credit to be used to offer mortgages to non-residents.

Reverse Mortgage

Reverse mortgages are for homeowners ages 62 and older. This allows these homeowners to convert their home equity value into cash without any monthly mortgage payments.

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