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Its an honor and a privilege for us at BluEleven to help with the financing of your home and we take this responsibly very seriously. We will ensure the best experience for you in a time when you are making one of the biggest investment of your life, Your Home!

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Did you know?

Conforming loans must meet the criteria set by Fannie Mae and Freddie Mac. The key minimum criteria for a conforming loan in 2025 include:

  1. Loan Limits (2025)
  • Baseline: $806,550 for single-family homes in most areas
  • High-Cost Areas: Up to $1,209,750 (varies by location)
  1. Credit Score
  • Minimum: 620 for most conventional conforming loans
  • Higher scores (typically 740+) qualify for better rates
  1. Debt-to-Income Ratio (DTI)
  • Typically capped at 43%, but up to 50% with strong compensating factors
  1. Down Payment
  • Primary Residence:
    • As low as 3% for first-time homebuyers
    • 5%+ for repeat buyers
  • Second Homes: At least 10%
  • Investment Properties: Typically 15-25%
  1. Loan-to-Value Ratio (LTV)
  • Max 97% LTV for first-time homebuyers
  • Max 95% LTV for repeat buyers
  • PMI (Private Mortgage Insurance) required if LTV exceeds 80%
  1. Property Type
  • 1-4 unit residential properties
  • Condos, townhomes, and planned unit developments (PUDs)
  • Manufactured homes (with restrictions)
  1. Income & Employment Verification
  • Stable income history (typically 2 years)
  • W-2s, tax returns, pay stubs, or bank statements required
  • Self-employed borrowers must show 2 years of tax returns
  1. Occupancy Requirements
  • Can be a primary residence, second home, or investment property
  • Stricter requirements for non-owner-occupied properties

As of 2025, the Federal Housing Finance Agency (FHFA) has set the baseline conforming loan limit for single-family homes at $806,500 across most of the United States. In designated high-cost areas, this limit can increase up to $1,209,750.

Here are the conforming loan limits for the specified states:

  • California (CA):
    • Standard limit: $806,500
    • High-cost areas (e.g., Los Angeles County, Orange County): up to $1,209,750
  • Hawaii (HI):
    • Entire state considered high-cost: $1,209,750
  • Colorado (CO):
    • Standard limit: $806,500
    • High-cost areas (e.g., Summit County): up to $1,209,750
  • Arizona (AZ):
    • Standard limit: $806,500
  • Texas (TX):
    • Standard limit: $806,500
  • Florida (FL):
    • Standard limit: $806,500
    • High-cost areas (e.g., Monroe County): up to $967,150

Please note that within each state, specific counties may have different loan limits based on local median home values. For instance, in California, counties like Los Angeles and Orange have higher limits due to elevated home prices. Similarly, in Colorado, Summit County has a higher limit reflecting its local housing market. It’s essential to check the conforming loan limits for the specific county where the property is located.

Pre-Qualification – Borrower provides basic financial info; lender assesses eligibility.

Application Submission – Borrower submits a complete loan application with required documents.

Credit & Financial Review – Lender pulls credit, verifies income, assets, and debt.

Loan Processing – Underwriter reviews application, requests additional documentation if needed.

Appraisal & Property Evaluation – Home appraisal ordered to assess property value.

Underwriting Approval – Final decision on loan approval, subject to conditions.

Clear to Close – All conditions met; loan is ready for closing.

Closing & Funding – Borrower signs documents; lender funds the loan.

Loan Servicing – Borrower begins making mortgage payments.

Depending on whether you are a W-2 employee or self-employed different conditions may be required but in general here are the basics to get started:

If you are a Salaried Employee: 

  1. It all starts with a loan application (you can apply here or call and talk to our licensed loan experts.
  2. Last Two Years W-2’s
  3. Most recent 30 days pay check stubs
  4. Most recent 60 days bank statement showing source of down payment and reserves. 
  5. Valid Identification 

If you are Self-Employed:

  1. Last Two Years Tax Returns (all schedules) 
  2. Most Recent YTD P&L Statement
  3. Other alternative Income  Documentation  Like 12 months bank statements may be acceptable instead of tax returns. 
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Who Should Become a Loan Officer and Why?

Insurance Agents

Insurance agents already have a strong client base seeking financial security. By becoming a loan officer, they can offer mortgage solutions alongside insurance products, creating more value for clients and increasing their earnings through commission-based loan closings. Their expertise in risk assessment and financial planning makes them well-suited for this role.

Realtors

Realtors thrive on home sales and adding mortgage origination to their services can provide a seamless experience for clients. By becoming a loan officer, they gain control over the financing process, reduce deal fallout, and unlock an additional revenue stream. This dual role strengthens client relationships and enhances their ability to close transactions faster.

Wealth Management Advisors

Wealth advisors guide clients on financial growth and stability, making mortgage lending a natural extension of their expertise. By offering tailored financing solutions, they help clients leverage assets, optimize debt, and structure real estate investments wisely. This not only strengthens client trust but also diversifies their service offerings, increasing long-term revenue potential.

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