High Balance
Large-Scale Loan Solutions
High Balance Requirements
620
Credit Score
High balance loans require a credit score of at least 620. We have alternatives available if you're not quite there yet.
3%
Down Payment
The minimum down payment is based on several factors, including loan type, credit score, and debt-to-income (DTI) ratio.
45%
Debt-to-Income Ratio
Your total monthly debt, including the new mortgage, should not exceed 45% of your gross monthly income. Exceptions can be made for borrowers with strong compensating factors.
Other Requirements
Loan Limits
For a conforming conventional loan, your loan must fall within the loan limits set by Fannie Mae and Freddie Mac. For {currentYear}, the conforming loan limit for a single-family home is {conformingLoanLimits}. There are exceptions, however. Alaska, Hawaii, and other high-cost areas of the country have higher loan limits, ranging up to $1,089,300.
PMI
If you put down less than 20% on a conventional loan, you’ll be required to pay for private mortgage insurance (PMI). PMI protects mortgage investors in case of a loan default. The cost for PMI varies based on your loan type, your credit score, and the size of your down payment.
