Conforming Loans with a 3% Down Payment


*Conforming Loan with a 3% Down Payment (620 FICO score needed)

*95% Loan to Value with NO Private Mortgage Insurance (Lender Paid)

*Fannie Mae HomeReady Income Limit

*Freddie Mac Home Possible Income Limit


Conventional – Loans closed on or after Jan 1st 2023:

The Federal Housing Finance Agency (FHFA) has issued the following maximum first mortgage loan limits that will apply to conventional loans for acquisition by Fannie Mae / Freddie Mac with a note date on and after January 1, 2023.

2023 Conventional Loan Limits
Units Conforming Amount  High Cost Areas
One $726,200 $1,089,300
Two $929,850 $1,394,775
Three $1,123,900 $1,685,850
Four $1,396,800 $2,095,200


Conforming loans are conventional loans that meet bank-funding criteria set by Fannie Mae (FNMA) and Freddie Mac (FHLMC).  Both of these stock-holding companies buy mortgage loans from lending institutions and secure them for resale to the investment community.  Every year, Fannie Mae and Freddie Mac establish limits on what constitutes a conforming loan in a mean home price.  Buying back mortgage loans allow these agencies to provide a continuous flow of affordable funding to banks that reinvest their money back into more mortgage loans.  Fannie Mae and Freddie Mac only buy loans that are conforming, to repackage into the secondary market – effectively decreasing the demand for non-conforming loans.

Contact Us

Access Capital Group Inc.
202 E. Earll Drive
Suite 460
Phoenix, AZ 85012

Phone: 6026485860


NMLS Consumer Access
NMLS # 33043

Arizona: MB-0904605 | California CFL License: 6038514 Loans made or arranged pursuant to a California Financing Law | Colorado: 20021150081 | Colorado: LMB100026744 | Florida: CL0700723 | Idaho 1st Mortgage: MBL-4501 / NMLS # 33043 | Maryland: #33043 | Minnesota: 20337251 | New Mexico: 01475 | North Carolina License/Registration #: B-213554 | Ohio: RM.804918.000 | Oregon: ML-4188 | South Carolina DCA: #33043 | Texas: SML #34341 | Tennessee: 33043 | Utah: 6360087-MLCO | VA - 919946-0008 | Virginia: MC-7553 | Washington MB-33043 | FHA - 18970-0000-1 and 18790 | Wyoming: MBL-1863