Fannie Mae and Freddie Mac purchase most of mortgages in the U.S. They are restricted by law to purchasing single-family mortgages with origination balances below a specific amount, known as the “conforming loan limit.” Loans above this limit are known as jumbo loans. In Texas the limit is $417,000 with a minimum down payment of 5% and has both fixed rate term options and adjustable rate options.
Equal Housing Lender
No statement on this website is a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the house to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant’s eligibility and market conditions. Terms of the loan may be subject to payment of points and fees by the applicant. NMLS# 3116