What Is the Conforming Loan Limit? | Mortgages and Advice | U.S. …

The conforming loan limit for 2023 is $726,200 for single-family homes in most U.S. areas, with higher limits in areas with a high cost of living. Conforming loans are conventional mortgages that meet the criteria set by Fannie Mae and Freddie Mac, and jumbo loans are those that exceed the conforming loan limit. Borrowers must have a credit score of at least 620, a minimum down payment of 3-5%, and a debt-to-income ratio of 36% or less to be eligible for a conforming loan.

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