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  • Conforming Loans: What They Are, Who They’re For, and Why They’re Beneficial

    A conforming loan is a standardized mortgage that meets the guidelines set by Fannie Mae and Freddie Mac, including loan limits, credit requirements, and documentation standards. Because these loans conform to federal secondary market rules, they are easier to sell and often come with competitive interest rates.

    Who is a Conforming Loan For?

    Conforming loans are ideal for homebuyers and homeowners who meet traditional credit and income requirements. They are especially suitable for those:

    • Purchasing a primary residence
    • Looking to refinance an existing mortgage
    • Seeking a loan amount within Fannie Mae and Freddie Mac limits

    Benefits of a Conforming Loan

    • Lower interest rates compared with non-conforming or jumbo loans
    • Flexible down payment options, including as low as 3% in some programs
    • Simpler underwriting and faster approval, thanks to standardized guidelines
    • Eligibility for cash-out refinances and other loan features
    • Potentially lower mortgage insurance costs, depending on your down payment and credit profile

    Conforming loans offer a reliable, cost-effective way to finance or refinance a home, making them a top choice for many borrowers.

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  • Conforming Loan Product Guidelines

    Loan TypeDown Payment MinimumCredit Score GuidanceMax DTINotes
    Purchase (Conforming) 3% – 5% 620+ 50% Standard documentation, primary residence only
    Rate & Term Refinance 0% – 5% 620+ 50% Cash-out not allowed, must refinance existing lien
    Cash-Out Refinance 5% – 10% 680+ 45% Max LTV 80% baseline / 75% high-balance
    Purchase (High-Balance) 5% – 10% 660+ 50% High-cost area loans, primary residence only
    Rate & Term Refinance (High-Balance) 0% – 10% 660+ 50% Primary residence, max LTV 90%
    Cash-Out Refinance (High-Balance) 10% – 15% 700+ 45% High-cost area, max LTV 75%
    1-Year & 5/7-Year ARM 5% minimum down 660+ (baseline) / 680+ (high-balance) 45% – 50% Primary residence only, rate adjusts annually (1-ARM) or after initial fixed period (5/7 ARM)

    *These guidelines represent typical underwriting for conforming and high-balance conforming loans. Actual program eligibility may vary based on lender overlays, county, and borrower profile. Contact Janus Mortgage for program-specific requirements.

  • Conforming Loan Programs & Limits

    TermMax Loan AmountLTV (Loan to Value)Type
    30/20/15-Year Fixed $832,750 (1 unit) - $1,601,750 (4 units) 97% Purchase
    30/20/15-Year Fixed $832,750 (1 unit) - $1,601,750 (4 units) 95% Rate & Term Refinance
    30/20/15-Year Fixed $832,750 (1 unit) - $1,601,750 (4 units) 80% Cash-Out Refinance
    1-Year ARM $832,750 (1 unit) - $1,601,750 (4 units) 95% Purchase
    1-Year ARM $832,750 (1 unit) - $1,601,750 (4 units) 95% Rate & Term Refinance
    1-Year ARM $832,750 (1 unit) - $1,601,750 (4 units) 80% Cash-Out Refinance
    5/7-Year ARM $832,750 (1 unit) - $1,601,750 (4 units) 95% Purchase
    5/7-Year ARM $832,750 (1 unit) - $1,601,750 (4 units) 95% Rate & Term Refinance
    5/7-Year ARM $832,750 (1 unit) - $1,601,750 (4 units) 80% Cash-Out Refinance
    30/20/15-Year Fixed (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 90% Purchase
    30/20/15-Year Fixed (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 90% Rate & Term Refinance
    30/20/15-Year Fixed (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 75% Cash-Out Refinance
    1-Year ARM (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 90% Purchase
    1-Year ARM (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 90% Rate & Term Refinance
    1-Year ARM (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 75% Cash-Out Refinance
    5/7-Year ARM (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 90% Purchase
    5/7-Year ARM (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 90% Rate & Term Refinance
    5/7-Year ARM (High-Balance) $1,249,125 (1 unit) - $2,433,750 (4 units) 75% Cash-Out Refinance

    *Maximum baseline and high-balance conforming loan amounts shown. Actual amounts may vary by county and high-cost area limits. LTV limits may vary by program and borrower profile.  Assumes the following:  Owner-occupied, single family residence; 680 middle FICO score; in a suburban or urban area.