Conforming Mortgage Loans
Conforming loans can be used for the purchase of primary, second homes and investment properties. Conforming loans are fully documented loans.
If the loan amount exceeds the threshholds below, you need to look at "Jumbo Loans".
For 2023, the conforming loan limits for PA and FL are as follows:
- One-unit properties: $726,200 (Monroe County in FL is $874,000)
- Two-unit properties: $929,850 (Monroe County in FL is $1,118,900)
- Three-unit properties: $1,123,900
Conforming purchases of a primary residence require a minimum credit score of 620 and minimum of 3% down. Eligibility is determined by credit score, down payment, loan to value ratio and debt ratios.
Have a question? Call now at 610-770-6900 or click the button below to request a free consultation with one of our mortgage advisors.
Wilson Mortgage Services, Inc. is licensed by the PA Department of Banking and the FL Office of Financial Regulation
