A "conforming" loan is one that fits inside the loan size limits Fannie Mae and Freddie Mac set every year. Stay under that cap and your mortgage qualifies for the lowest, most widely available rates; cross it and the very same house price turns into a "jumbo" loan that usually costs more down payment and more interest. This calculator tells you which side of the line you are on, how much room you have under it, and whether private mortgage insurance (PMI) will be added to your bill.
For 2024 the baseline single-family conforming limit is $766,550, and in designated high-cost counties the ceiling rises to $1,149,825. Adjust the inputs below and the result updates instantly.
How to Use
- Enter the Home Price — what you have agreed to pay the seller.
- Set your Down Payment as a percentage of that price. The classic threshold is 20%; below it, lenders almost always require PMI.
- Pick the FHFA Limit Tier. Choose the $766,550 baseline for most of the country; choose $1,149,825 only if the property sits in a designated high-cost county (for example, parts of California, New York City, or Hawaii).
- Type your Interest Rate (APR). It is used only to show an estimated monthly principal-and-interest payment on a 30-year fixed loan — it does not change whether the loan is conforming.
- Read the result card: it shows the loan amount, your loan-to-value percentage, the limit that applies, the amount you are over (or under) the cap, a plain Conforming / Jumbo verdict, and whether PMI is required.
The single most useful number is Amount Over / (Under) Limit. A positive figure means you are in jumbo territory; a negative figure is your cushion before you bump into the conforming ceiling.
What Is a Conforming Loan, Anyway?
Conforming loans are mortgages that "conform" to the guidelines Fannie Mae and Freddie Mac follow when they buy loans from lenders. One of those guidelines is a maximum loan size. It is set by the Federal Housing Finance Agency (FHFA) each year and, for most of the United States, the 2024 single-family limit is $766,550.
That number matters because loans at or below the limit are liquid — Fannie or Freddie will readily buy them — so lenders price them aggressively. A loan above the limit has to be held in a lender's own portfolio or sold into the narrower jumbo market. That is why jumbo loans typically demand a larger down payment (often 20%–30%) and carry a higher rate, even on an otherwise identical borrower and house.
Crucially, the limit is measured on the loan amount, not the purchase price. A $900,000 home with $200,000 down is a $700,000 loan — comfortably conforming. The same $900,000 home with $100,000 down is an $800,000 loan — over the baseline cap and into jumbo. Your down payment is exactly what decides which bucket you land in.
High-Cost Counties: The $1,149,825 Ceiling
In expensive regions, FHFA sets a higher "ceiling" limit. The 2024 high-cost county ceiling is $1,149,825, which is 150% of the baseline (the cap rises with the metropolitan statistical area, up to this maximum).
This is why two buyers can finance $1.1 million with very different outcomes:
- In a typical county, a $1.12 million loan exceeds the $766,550 baseline and is jumbo.
- In a high-cost county that uses the $1,149,825 ceiling, the same $1.12 million loan is conforming, and gets conforming pricing.
If you are unsure which tier applies to your address, treat the $766,550 baseline as the safe default and ask your lender to confirm the county-specific figure before you lock a rate.
Does PMI Apply?
The conforming limit is about loan size. PMI is a separate, down-payment rule: any conventional loan (conforming or otherwise) with a loan-to-value ratio above 80% — that is, less than 20% down — usually requires private mortgage insurance until equity grows to 20%.
So a $600,000 loan with 10% down is perfectly conforming in size, but still carries PMI. This calculator surfaces that with the "PMI Required?" line so you do not confuse a cheap rate with a cheap monthly payment.
Examples
Example 1 — A conforming loan with room to spare. On a $625,000 home with 20% down in a baseline county, the loan is $500,000. That is $266,550 under the $766,550 limit, the loan-to-value is exactly 80%, PMI is not required, and the estimated principal-and-interest payment at 6.8% is about $3,260 per month.
Example 2 — Zero-down triggers PMI. Buying a $400,000 home with no down payment produces a $400,000 loan — still well under the limit, so it is conforming — but because you put 0% down, PMI is required, and the LTV reads 100%. At 7% the monthly principal-and-interest is roughly $2,661, before PMI, tax, and insurance are added.
Example 3 — High-cost rescue. In a high-cost county, a $1.4 million home with 20% down is a $1,120,000 loan. Measured against the $766,550 baseline that would be jumbo; measured against the $1,149,825 high-cost ceiling it stays conforming, with only $29,825 of headroom. This is the single biggest reason to confirm your county's limit.
Example 4 — The jumbo case. A $1.5 million home with 20% down creates a $1,200,000 loan in a baseline county. That exceeds the $766,550 limit by $433,450, so the calculator flags it as Jumbo. Expect a larger down-payment requirement and a higher rate; at 7% the monthly principal-and-interest alone is about $7,984.
FAQ
What is the 2024 conforming loan limit?
For most of the United States, the 2024 single-family conforming loan limit set by the FHFA is $766,550. In designated high-cost counties the ceiling rises to $1,149,825. Limits are slightly higher for two-, three-, and four-unit properties.
What is the difference between a conforming and a jumbo loan?
A conforming loan is sized at or below the FHFA limit and can be bought by Fannie Mae or Freddie Mac, which keeps rates low and widely available. A jumbo loan exceeds the limit, cannot be sold to those agencies, and is held or sold in the narrower jumbo market — usually requiring a larger down payment (often 20%–30%) and charging a higher interest rate.
Is the limit based on the home price or the loan amount?
It is based on the loan amount — the purchase price minus your down payment. A $900,000 home with $200,000 down is a $700,000 loan and is conforming; the same home with $100,000 down is an $800,000 loan and becomes jumbo under the baseline cap.
How do I know if my county uses the $1,149,825 high-cost limit?
High-cost limits apply only in specific, usually expensive metropolitan areas. If you are buying in a major coastal or high-cost market, ask your lender or check the FHFA's county-by-county limit table. When in doubt, calculate with the $766,550 baseline first.
Do I need PMI on a conforming loan?
Yes, if your down payment is under 20% (loan-to-value above 80%). PMI protects the lender and typically costs 0.3%–1.9% of the loan amount per year, until you reach 20% equity, at which point it can be removed.
Can a conforming loan be under 20% down?
Absolutely. The size limit and the down-payment rule are separate. Conventional conforming loans are available with as little as 3%–5% down, but below 20% you will pay PMI.
What happens if my loan is just over the limit?
It becomes jumbo, even by a single dollar. Borrowers often structure the transaction to stay conforming — a larger down payment, a gift of equity, or a smaller loan — because the rate and down-payment terms can improve materially once back below the cap.
Disclaimer
This conforming loan calculator is provided for informational purposes only and does not constitute financial, lending, or tax advice. The 2024 limit figures shown are the published FHFA baseline and high-cost ceiling and are rounded for illustration; county-specific limits can differ. Monthly payment estimates use the standard 30-year amortization formula and are not a loan offer. Always confirm the exact limit, rate, down-payment requirement, and PMI terms directly with a licensed mortgage lender before committing.