Welcome to Maine Mortgage Company
Your Conforming Loan Experts

Looking for a reliable, straightforward mortgage option? Conforming loans might be just what you need.

At Maine Mortgage Company, we specialize in helping homebuyers like you navigate the world of conforming loans to find the perfect fit for your dream home.

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877-888-5291

Contact us today for a free, no-obligation consultation. Or fill out our online form, and one of our friendly loan experts will be in touch soon.

Why Choose a Conforming Loan?

Lower Interest Rates

Generally offer more competitive rates than non-conforming loans.

Easier Approval

Often have less stringent requirements than jumbo loans.

Lower Down Payments

Some conforming loans allow down payments as low as 3%.

Stability

Backed by Fannie Mae and Freddie Mac, offering peace of mind.

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What Are Conforming Loans?

Conforming loans are mortgages that "conform" to the guidelines set by Fannie Mae and Freddie Mac, two government-sponsored enterprises that buy and sell mortgage-backed securities. These loans have maximum loan amounts that are adjusted annually to reflect changes in home prices.

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Types of Conforming Loans We Offer

01

Fixed-Rate Mortgages
  • Predictable monthly payments
  • Great for long-term homeowners
  • Available in 15, 20, or 30-year terms

02

Adjustable-Rate Mortgages (ARMs)
  • Lower initial rates
  • Ideal for short-term homeownership
  • Various options like 5/1, 7/1, or 10/1 ARMs

03

Government-Backed Loans
  • FHA loans for lower credit scores or smaller down payments
  • VA loans for veterans and active-duty military
  • USDA loans for rural home buyers

Conforming Loan Limits

As of 2023, the conforming loan limits are:

  • $726,200 for most areas in the contiguous U.S.
  • Up to $1,089,300 in high-cost areas like Hawaii, Alaska, and certain metropolitan regions

Don't worry if these numbers seem confusing - we're here to help you understand what they mean for your home buying journey!

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Why Choose Maine Mortgage Company for Your Conforming Loan?

01.

Maine-Focused Expertise

As your dedicated local mortgage partner, our team doesn't just understand conforming loan regulations – we know Maine's unique housing markets, from Portland's urban neighborhoods to Bangor's suburban communities. We'll guide you through every option, ensuring you choose the right conforming loan for your Pine Tree State home purchase.

02.

Customer-First Service Philosophy

Our approach centers on understanding your unique journey to homeownership. Whether you're a first-time buyer in Augusta or downsizing in Brunswick, we pair competitive rates with personalized attention, tailoring our recommendations to fit your specific goals and timeline.

03.

Streamlined Maine Success

Experience a stress-free path to homeownership with our efficient, transparent process. From quick pre-approvals to clear communication at every milestone, we handle the complexities while keeping you informed, ensuring a smooth journey to closing on your Maine dream home.

Take the Next Step

Whether you're a first-time homebuyer or looking to refinance, conforming loans offer a reliable path to homeownership. Let's chat about your goals and find the perfect loan for you.

Contact us today for a free, no-obligation consultation. Call 877-888-5291 or fill out our online form, and one of our friendly loan experts will be in touch soon.

APPLY NOW!

Frequently asked questions

Conventional Loans

What credit score do I need for a conforming loan?

While requirements can vary, a score of 620 or higher is typically needed. Don't worry if you're not quite there - we can discuss options!

How much do I need for a down payment?

While 20% down can help you avoid private mortgage insurance (PMI), many conforming loans allow for much lower down payments, sometimes as low as 3%.

Can I use gift funds for my down payment?

Yes! Many conforming loans allow you to use gifted funds for your down payment. We can help you understand the requirements.

Copyright All Rights Reserved | Maine Mortgage Company, LLC | NMLS # 2155395 | Privacy Policy

This information is not a loan approval or commitment to lend. The actual loan amount, interest rate, fees, costs and monthly payment on your specific loan transaction can vary and will depend on your choice of loan product and unique credit profile. Loans (in ME) will be made pursuant to NMLS # 2155395. Maine Mortgage Company is an Equal Housing Loan Broker.