Conventional Loans in New York | Fast Close Mortgage

Conventional Loans in New York — 2026 Limits & How to Apply

Looking for Conventional Loans in New York? Fast Close Mortgage is a New York-licensed mortgage lender offering conventional loans with closing timelines as fast as 7 days. Whether you’re in New York City, Albany, or anywhere else in New York, our team can help you get approved quickly and close on a competitive conventional loans rate. NY conventional loan limits in NYC boroughs reach $1,209,750. Many NY buyers use conventional loans with 10-20% down to avoid PMI in high-cost areas.

2026 Conventional Loans Loan Limits in New York

The 2026 conventional loan limit in New York is $806,500 in most counties and up to $1,209,750 in higher-cost areas. The conforming loan limit applies to loans purchased by Fannie Mae and Freddie Mac. Loans above this limit are considered jumbo and have different pricing.

These limits matter because New York buyers using conventional financing can typically access homes up to the conforming limit with as little as 3% down. For higher-priced properties in New York, jumbo loans are available from jumbo-specialized lenders with pricing adjustments above the conforming limit.

What credit score do you need for Conventional Loans in New York?

The minimum credit score for Conventional Loans in New York is 620 for 3% down. Borrowers with credit scores below 620 (down to 620) can still qualify with 5% down. Most New York lenders prefer 620+ for the best pricing.

For New York buyers with credit scores in the 580-619 range, FHA and VA loans are often the best options. New York buyers with credit scores of 740+ get the best conventional loan pricing. We work with lenders who specialize in non-prime credit profiles and can often find competitive options for New York buyers across the credit spectrum.

How fast can I close Conventional Loans in New York?

Fast Close Mortgage closes most New York conventional loans in 7 to 14 days from a clean approved application. Conventional loan closings are typically faster than FHA, VA, or USDA because they don’t require government-agency-specific processing. New York conventional buyers can often close in 7 days for straightforward purchases.

Why choose Fast Close Mortgage for Conventional Loans in New York?

Fast Close Mortgage is a New York-licensed mortgage lender offering Conventional Loans with closing timelines as fast as 7 days. Here’s why New York buyers choose us:

Licensed in all 50 states. We serve New York buyers plus 49 other states with consistent service and pricing.
Dedicated New York loan officer. Each New York borrower is assigned a local loan officer who understands New York-specific market conditions, county loan limits, and closing timelines.
Fast closing. Most New York Conventional Loans close in 7 to 21 days, depending on the loan type.

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New York Conventional Loans FAQ

The 2026 conventional loan limit in New York is $806,500 in most upstate counties and $1,209,750 in NYC metro and Long Island. The conforming loan limit applies to loans purchased by Fannie Mae and Freddie Mac.

Conventional loans in New York require as little as 3% down for first-time buyers or 5% down for standard conventional loans. NY buyers in high-cost areas often use 10-20% down to avoid PMI.

Conventional loans in New York typically require a minimum credit score of 620. Higher scores (740+) get the best pricing. NY has stricter condo approval requirements, so we verify building approval before issuing pre-approval.

Conventional loans in New York can finance co-ops in NYC. The co-op board must approve the buyer and the building must meet Fannie Mae or Freddie Mac project approval standards. Most established NYC co-ops are financeable.

Yes — conventional loans are available throughout New York including NYC, Long Island, Westchester, and upstate. NY is a major conventional loan market with competitive jumbo pricing above the conforming limit.

2026 Conventional Loans limits in New York

$2,000,000 statewide (2026 VA loan limit).

What credit score do you need for Conventional Loans in New York?

620 minimum; co-op buildings need VA co-op approval (longer timeline).

How fast can I close Conventional Loans in New York?

21–30 days for NY VA loans. Co-op approvals can extend to 45+ days.

Why choose Fast Close Mortgage for Conventional Loans in New York?

Fast Close Mortgage is NY-licensed; team has NY co-op expertise.

Conventional Loans FAQ

What credit score do I need for a conventional loan?

620 minimum for most lenders; 740+ for best pricing.

How much down payment is required?

As low as 3% for first-time buyers (Fannie/Freddie); 5–20% for investment properties.

Can I avoid private mortgage insurance (PMI)?

Yes — with 20% down (or 20% equity in a refinance). PMI is required when LTV exceeds 80% on conventional loans.

What is the difference between conforming and non-conforming loans?

Conforming loans meet Fannie Mae / Freddie Mac limits (2026: $806,500 baseline, up to $1,209,750 in high-cost counties). Non-conforming loans exceed these limits and are called jumbo loans.

Other states

Fast Close Mortgage is licensed in New York and all other 49 states. NMLS ID available on request. Equal Housing Opportunity.