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AD Mortgage

New Possibilities in New Year with Conventional Loans

At the start of the new year, Freddie Mac and Fannie Mae raised the loan limits on most Conventional and High Balance Conventional loans.  While leading the way as the top lender of Non-QM loans, A&D Mortgage also is committed to providing a range of refinance, purchase, and cash-out lending solutions for those meeting the updated GSE requirements.

Conventional Loan Program Overview

Conventional Conforming

  • Loan amounts up to $647,200
  • You may use a conventional loan to finance a property in a high-cost area
  • 15, 20, 25 & 30 years fixed rate
  • Down payments as low as 3% depending on your loan amount

Conventional High Balance

  • Loan amounts up to $970,800 in high-cost areas for a single unit
  • Eligible for primary and second homes
  • More competitive rates and easier guidelines
  • Faster turn times

Freddie Mac Home Possible

  • Fixed-rate financing for easier budgeting
  • Homebuyer education is required for first-time buyers

 Fannie Mae HomeReady

  • Down payments as low as 3%
  • FICO from 620
  • First-time or repeat homebuyers
  • Homeowner education helps you understand and manage the long-term financial commitments of homeownership

Freddie Mac Refi Possible / Fannie Mae Refi Now

  • FICO 620
  • 97% LTV
  • Income at or below 80% of the area median income (AMI)
  • Borrower will receive $500 credit at closing if they have an existing appraisal
  • Maximum DTI 65%
Carl Holman

Written by

Carl Holman

Communications Manager

As A&D Mortgage’s Communications Manager. Carl Holman has more than 20 years of expertise in marketing, media relations, and communications, having spent 10 years of his career in mortgage lending and real estate. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina.