There is no "one-size-fits-all" mortgage. Whether you're purchasing a new home or refinancing your current loan, we offer mortgage options with rates and terms to provide the right solution to fit your borrowing needs.
Conforming loans are the generally accepted industry standard for mortgages, following Fannie Mae and Freddie Mac guidelines, and the most common for single-family homes with loan amounts below $453,100. Our Conforming Loans offer a variety of terms and rates designed to meet your borrowing needs.
High-balance loans, also called jumbo loans, are mortgages that exceed the normal loan limits for conforming loans due to the property being located in a high-cost area.
The Burke & Herbert Bank High Balance Loan allows you to borrow between $453,101 and $679,650. These loans offer a variety of terms and rates designed to meet your home financing needs.
Typically, nonconforming loans are loans where the loan amount exceeds the high balance loan limit. Due to the loan amount, the rates are usually higher than other types of mortgages.
The Burke & Herbert Bank Nonconforming Loan allows you to borrow between $679,650.01 and $2,500,000, and offers a variety of terms and rates designed to meet your home financing needs.
To learn more, stop by any branch or call us at 703-684-1655 and ask to speak with a Mortgage Loan Officer.