nonconforming loan limit

You have conventional loans, also known as conforming loans, and those are capped at $417k unless you live in a designated High value area like San Fran and then the limit is $729k. You can't have a non-conforming conventional loan they are two different types of loans. A non-conforming loan would be a loan where the borrower fails to meet the standard eligibillity requirements so it can't be sold off to Fannie or Freddie, those are usually done by portfolio lenders or hard money lenders and come with higher rates typically.

Conventional loans are all conforming, meaning they conform to certain guidelines that enable Fannie Mae/Freddie Mac to pool them and sell securities against them... non conforming loans are not conventional... they are loans offered by lenders using their own funds under the own portfolio.. Portfolio, or non conforming loans have varying loan limits from one lender to the other.. Although some lenders will use portfolio funds to lend to a borrower, they will most often still comply with conventional guidelines.. if you're looking to finance more than $417K, then you would need Jumbo financing, which is a non conforming product.. And each lender has their own guidelines and minimum / maximum loan limits.. $4M seems to be the highest you can get for a primary residence jumbo non conforming loan... and of course the loan to value will vary from lender to lender as well.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Other answers have mentioned that a non conforming product will have different loan limits set by each lender.

The conforming loan limit is $417,000 (except is certain high cost areas). NON-conforming limits are set by the individual lenders.