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High Balance Conventional Loan

A High-Balance Conventional Loan is one that exceeds the national baseline conforming loan limits but falls within the local conforming loan limits for your high-cost county. High-Balance Conventional loans are considered conforming loans with respect to Fannie Mae and Freddie Mac.

A&D Mortgage is a specialist in dealing with these kinds of conventional agency mortgages and will guide you through the entire loan process.

Program highlights:

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

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Other Programs

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Home Possible

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

FHA

- Financing up to 96.5%
- DTI up to 55%
- No appraisal is needed to apply for the streamline refinance FHA program
- Up to 6% of closing costs can be contributed by the seller

Freddie Mac Refi Possible

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Fannie Mae Refi Now

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements