A conventional home loan is not guaranteed by any government organization, including the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA).

Loan limits are the maximum allowable loan size for a mortgage. These limits will vary based on the product and region, and they are specified within a loan program’s provided mortgage guidelines.

The Federal Housing Administration enforces the specific loan limits for FHA loans, while the Department of Veterans Affairs enforces the specific loan limits for VA loans.

Loans that exceed the FHA loan’s local limit cannot be insured, and loans that exceed the VA loan’s local limit cannot be guaranteed. Conventional loans are stricter to get approved for than a government-backed loan.

Keeping mortgage loan limits unchanged enables existing homeowners to refinance, as well as giving new homebuyers access to government-backed home loans with low mortgage rates.

From the moment you start an application to the day your loan closes and beyond, you can depend on Napa Finance to be on your side. We’re here to help!