Conventional Loan

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A conventional loan is one that meets the standards of loan guidelines established by government-sponsored enterprises Freddie Mac and Fannie Mae. The most well-known conforming loan guideline is the size of the loan. There are two different types of conforming loan size limits: standard and high-cost area. The Standard balance is up to $484,350 and the Conventional high-balance is from $484,351 to $726,625.