The first big difference between a conforming and a non-conforming loan is the loan’s limits. The maximum amount on a regular loan for a one-unit property is generally $484,350 in the lower 48 states.
Non Qualifying Home Loans Lenders also offer "non-QM" loans to borrowers that have special needs. The phrase "qualifying mortgage" is a new one. The standard was implemented in 2014 by the consumer financial protection Bureau (CFPB) as an industry safeguard for both lenders and borrowers.
What are the FHA and jumbo loan limits in your state? Check out this map for FHA loan limits and Fannie-Freddie conforming limits by state and.