Link to University Lending Group Facebook page

 

 Link to University Lending Group Facebook page

ULG strives to provide its customers with high quality service and a comprehensive selection of competitively priced loan products. 
 
loans Contact Us

 

ULG strives to provide its customers with high quality service and a comprehensive selection of competitively priced loan products. 
 
loans Contact Us

 

 

Conventional and Jumbo Loans

Conventional loans are secured by government sponsored entities or GSEs such as Fannie Mae and Freddie Mac. Conventional loans can be made to purchase or refinance homes with first and second mortgages on single family to four family homes.

In general, Fannie Mae and Freddie Mac's single family, first mortgage loan limit is $417,000. This limit is reviewed annually and, if needed, changed to reflect changes in the national average price for single family homes.

Conventional Loan Limits

First mortgages

  • One-family loans: $417,000
  • Two-family loans: $533,850
  • Three-family loans: $645,300
  • Four-family loans: $801,950

Loans which are larger than the limits set by Fannie Mae and Freddie Mac are called jumbo loans. Because jumbo loans are not funded by these government sponsored entities, they usually carry a higher interest rate and some additional underwriting requirements.

In addition to common loan structures such as fixed rate, adjustable rate and balloon loans, Fannie Mae and Freddie Mac also have loan programs for low to no down payments, community lending and affordable housing initiatives.

University Lending Group
 
Let University Lending Group guide you through the home buying or refinancing process, and provide you with the best service available.

PHONE: 586-783-7900

Copyright 2017
University Lending Group
Careers 
Privacy Notice | Terms Of Use
Online Security
NMLS #213179
University Lending Group
 
Let University Lending Group guide you through the home buying or refinancing process, and provide you with the best service available.

PHONE: 586-783-7900

Copyright 2017
University Lending Group
Careers 
Privacy Notice | Terms Of Use
Online Security
NMLS #213179
University Lending Group 
Mortgage Library Application About Us
Loan Programs
Locations Find a Professional Contact Us

Privacy Notice - Federal law requires us to tell you how we collect, share, and protect your personal information. Our privacy policy has not changed and you may review our policy and practices with respect to your personal information at www.university-bank.com or we will mail you a free copy upon request if you call us at 1-800-368-7987. 

Illinois Residential Mortgage Licensee - Illinois Mortgage Banker Licensee, License No. MB. 6760806, State of Illinois Department of Financial and Professional Regulation, Division of Banking, 100 W. Randolph, 9th Floor, Chicago, IL 60601; (312) 793-3000; www.idfpr.com.

University Lending Group 
Mortgage Library Application About Us
Loan Programs
Locations Find a Professional Contact Us

Privacy Notice - Federal law requires us to tell you how we collect, share, and protect your personal information. Our privacy policy has not changed and you may review our policy and practices with respect to your personal information at www.university-bank.com or we will mail you a free copy upon request if you call us at 1-800-368-7987. 

Illinois Residential Mortgage Licensee - Illinois Mortgage Banker Licensee, License No. MB. 6760806, State of Illinois Department of Financial and Professional Regulation, Division of Banking, 100 W. Randolph, 9th Floor, Chicago, IL 60601; (312) 793-3000; www.idfpr.com.

 
 
 
 
 
Equal Housing Lender logo
 

 

 
 
 
 
 
Equal Housing Lender logo