Conforming Mortgages are residential mortgage loans that conform to the guidelines set by Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). These government sanctioned organizations set guidelines for loans to be securitized so that they may be bought and sold on the secondary mortgage market. The guidelines include criteria for credit, debt ratios, asset requirements, job stability, loan-to-value and most notably maximum loan limits. The loan limits are set by The Office of Federal Housing Enterprise Oversight (OFHEO) which typically reviews the limits on an annual basis.  Currently, the conforming loan limit is $417,000.
Fannie Mae and Freddie Mac have created a wide variety of mortgage products that are eligible for participating lenders to originate including fixed rate mortgages, adjustable rate mortgages, and hybrid-adjustable rate mortgages. Additionally a wide variety of amortization terms and interest-only periods are available. Conventional mortgage loans made by lenders that do not fit into the guidelines set by Fannie Mae or Freddie Mac are termed Non-Conforming Mortgages.

Apex Mortgage is a direct mortgage lender with a large selection of Conforming Loan options.  Give us a call  today to speak with an Apex Mortgage Solutions loan consultant and find out which of the many types of loans maybe right for your unique situation and get current rates.  Or if you prefer REQUEST A QUOTE online and we'll get back to you as soon as possible.